The acquisition, which would convert non-profit Quincy to a for-profit facility, requires approval from the Supreme Judicial Court of Massachusetts, review by Attorney General Martha Coakley’s office and permission from the state Department of Public Health.
Quincy Medical Center has a $6 million operating deficit and missed a $380,000 bond payment last month. Under the proposed sale to Steward, Quincy’s 1,100 employees would retain their levels of pay and benefits and would not be laid off.
Read the Boston Globe report on Quincy Medical Center.
Related Articles on Quincy Medical Center:
Steward to Acquire Massachusetts’ Quincy Medical Center
Massachusetts’ Quincy Medical Center Seeks Partner
Quincy Medical Center Nurses’ Contract Negotiations Halt Until Federal Mediator Arrives
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