Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

UConn Health solicits financial partners

Farmington-based UConn Health is searching for a potential partnership to boost its financial future, according to HartfordBusiness.com.

The health system released a solicitation letter of interest Oct. 22 to attract potential partners for a public-private relationship.

Andrew Agwunobi, MD, CEO and executive vice president for health affairs at UConn Health, told HartfordBusiness.com the partnership could take a number of forms, including a merger, and both local and national partnerships will be considered.

The solicitation letter reportedly details UConn Health's struggling financials in recent years. While the health system has seen increased patient volumes, its pension responsibilities for its workforce and increasing hospital consolidation statewide pose a concern.

"Even though we have done better financially recently, we see there are strong headwinds in the next two to three years," Dr. Agwunobi told the publication.

Dr. Agwunobi noted the health system may choose a partner by the end of the year or early next year.

To access the full report, click here.

More articles on transactions and valuations:
ProMedica eyeing new merger deal with Summa Health
Weeks after $9.9B sale to investors, Envision picks up new physician practice
2 private equity firms vie for Acadia Healthcare

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Webinars

Featured Whitepapers