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Prospect Medical Holdings acquires Waterbury Hospital

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Los Angeles-based Prospect Medical Holdings will acquire a majority of Greater Waterbury (Conn.) Health Network's assets, including Waterbury (Conn.) Hospital.

According to the agreement, Prospect will maintain a three-year license to operate 393 hospital beds at Waterbury Hospital and committed to spend $55 million for the development and improvement of the hospital over a seven-year period.

The financial terms of the transaction have yet to be disclosed.

Prospect also owns hospitals in California, New Jersey, Pennsylvania, Rhode Island and Texas.

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