Farmington, Conn.-based UConn Health completed its acquisition of Waterbury (Conn.) Hospital from bankrupt Los Angeles-based Prospect Medical Holdings on March 1, establishing the UConn Health Community Network.
The UConn Health Community Network is a nonprofit entity created to support and strengthen community hospitals by connecting them with patient care expertise, research, education and innovation of the state’s only public academic medical center, according to a March 2 news release shared with Becker’s.
The network includes Waterbury Hospital — now known as UConn Health Waterbury Hospital — along with the UConn Health Community Network Medical Group and UConn Health Waterbury Health at Home. Health system leaders will outline the broader vision for the community network later this week, according to the release.
UConn Health’s acquisition of Waterbury Hospital comes after the system received emergency certificate-of-need application approval from Connecticut’s Office of Health Strategy on Jan. 30. Under the terms, the system must maintain or improve existing services for at least three years, engage with the community in health planning efforts and provide an assessment of Waterbury Hospital and its operations, including a strategic integration plan, within nine months.
The system received approval from the Connecticut General Assembly in November to acquire the hospital after submitting a $13 million bid. UConn Health said in November it plans to invest about $250 million in Waterbury Hospital over the next five years.
“Over the past several months, we have worked closely with UConn Health to ensure a thoughtful transition centered on our patients and staff,” UConn Health Waterbury Hospital President Deborah Weymouth said in the release. “Becoming part of the UConn Health Community Network allows us to move forward with confidence. Care remains local and our commitment to Waterbury remains strong.”
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.