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State approves Ascension's sale of Connecticut hospital

The Connecticut Office of Health Strategy has approved Hartford (Conn.) HealthCare's acquisition of substantially all of the assets of St. Vincent's Medical Center in Bridgeport, Conn., from Ascension.

St. Louis-based Ascension and Hartford HealthCare signed a letter of intent for the acquisition in March 2018 and entered into a definitive agreement seven months later. Both organizations expect the transaction to close by Oct. 1.

"We are delighted that St. Vincent's associates, physicians and volunteers will continue to provide safe, high-quality and accessible healthcare to individuals in Bridgeport and Fairfield County as part of Hartford HealthCare," Craig Cordola, executive vice president and COO of Ascension, said in a press release.

St. Vincent's comprises a 473-bed community hospital, a 76-bed inpatient psychiatric facility, a multispecialty provider group and special needs services for adults and children.

More articles on healthcare industry transactions:

Hospital M&A update: 6 latest deals
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