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Tenet ends bid to acquire 5 Connecticut hospitals

For-profit Dallas-based Tenet Healthcare Corp. will not be expanding into Connecticut as previously planned.

Tenet had planned to acquire the following Connecticut hospitals: Waterbury Hospital; Saint Mary's Hospital in Waterbury; Bristol Hospital; and Eastern Connecticut Health Network, based in Manchester, which owns Rockville General in Vernon and Manchester Memorial.

However, Tenet has announced it will no longer pursue those efforts due to proposed conditions state regulators put on the hospital operator's purchase of Waterbury Hospital.

Tenet released a statement concerning its decision to no longer pursue its plans of expanding in Connecticut. "For more than two years, Tenet…and our predecessor, Vanguard Health Systems, have worked with our partner, (New Haven, Conn.-based) Yale New Haven Health System, as well as elected officials and community leaders in Waterbury, Bristol, Manchester and Rockville (Conn.) to secure the continued availability of high-quality, affordable local hospital care for residents of those communities," the statement read.  

The statement continued, "We respect the role the state regulators have in providing guidance and oversight to the healthcare industry and understand the responsibility they take in discharging their duties. Nonetheless, the extensive list of proposed conditions to be imposed on the Waterbury Hospital transaction, which is only the first of four transactions for which we've made applications, has led us to conclude that the approach to regulatory oversight in Connecticut would not enable Tenet to operate the hospitals successfully for the benefit of all stakeholders."

After explaining that it was going to withdraw its applications regarding the transaction in Connecticut, Tenet went on to commend the leadership at the hospitals and the Yale New Haven Health System, and says it hopes those leaders will be able to identify and go after alternatives.

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