Yale New Haven (Conn.) Health System agreed Feb. 10 to acquire two Connecticut health systems from Los Angeles-based Prospect Medical Holdings.
The deal includes the Connecticut systems' related businesses, real estate assets, physician clinic operations and outpatient services, according to a news release from Yale New Haven Health.
Yale New Haven Health will purchase the assets and operations of three hospitals that make up the two systems:
- Waterbury (Conn.) Hospital (also known as Waterbury Health) with 357 beds
- Manchester (Conn.) Hospital (also known as ECHN) with 249 beds
- Vernon, Conn.-based Rockville General Hospital with 102 beds
ECHN and Waterbury Health, which have about 2,900 employees, will become nonprofit organizations through the transaction.
Completion of the deal is expected later this year, pending regulatory approvals, according to Yale New Haven Health.
"This relationship makes sense from a patient care perspective," Yale New Haven Hospital President Keith Churchwell, MD, said in the news release. "We believe patients will benefit directly from the affiliation of these exceptional health systems with a Connecticut-based academic health system like Yale New Haven."