The boards of both organizations reached a definitive agreement on the deal Sept. 23. Under the agreement, UMass Memorial, a three-hospital system in Worcester, Mass, will acquire Harrington HealthCare, a Southbridge, Mass.-based system comprising a 119-bed hospital, satellite location and three medical office buildings.
The two organizations first announced the deal in January and expected the deal to be finalized about six to nine months after the due diligence period. However, in May, Harrington HealthCare CEO Ed Moore said the due diligence period would take about three or four months longer than initially planned.
The deal still needs approval from the state.
Read the full report here.
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