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Waterbury Hospital unveils new plans after failed Tenet deal

Waterbury (Conn.) Hospital has announced Prospect Medical Holdings, a for-profit hospital operator based in Los Angeles, is interested in acquiring it, making PMH the third potential buyer for the hospital in five years, according to a CT Mirror report.

Dallas-based Tenet Healthcare was close to acquiring Waterbury Hospital in 2014. However, after more than two years of working toward a deal, Tenet backed out of the transaction due to proposed conditions state regulators put on its purchase of the hospital.

Waterbury and PMH have signed a letter of intent, and if the two organizations move forward with the deal, it will be the first time a for-profit company has attempted to acquire a Connecticut hospital since the Tenet deal fell apart, according to the report.

More articles on healthcare industry transactions:

26 hospital transactions and partnerships in April
For-profit vs. nonprofit: A breakdown of hospital deals over the past 5 years
3 reasons hospitals are avoiding mergers and choosing to affiliate instead

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