Specifics of why the deal broke down have not been disclosed. However, the hospitals apparently clashed over culture, mission and strategies for the future, according to the report.
Michael Wagner, MD, CEO of Tufts, and Kate Walsh, CEO of BMC, released a joint statement saying it is “best for our medical centers to remain separate,” according to the Boston Globe.
In April, the two organizations were pushing to have the merger completed by the end of this year.
There have been several unsuccessful mergers and acquisitions in Massachusetts in recent years, including Boston-based Partners HealthCare’s failed takeover of South Shore Hospital in Weymouth, Mass.
More articles on healthcare transactions:
3 keys to selecting affiliation partners
Q1 hospital M&A activity keeps pace with 2014
Kaiser eyes partnership with Maui hospital
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.