Essent Healthcare, Nashville, may owe an additional $1 million on its purchase of 78-bed Sharon (Conn.) Hospital, based on payments now being received by the hospital for services rendered before the purchase closed April 12. An Essent spokesman said the post-closing audit of working capital accounts, conducted by Connecticut Attorney General Richard Blumenthal, is a standard part of any hospital sale. The spokesman added that it will be several months before a final figure is determined, and that Essent also is paying bills incurred by the hospital prior to closing. Blumenthal, whose office approved the conversion of Sharon Hospital into Connecticut's first investor-owned hospital, could not be reached at deadline. Any payment from Essent would go to the healthcare foundation set up with the net proceeds of the $16.4 million sale. -- by Vince Galloro
Price of Essent hospital deal still being calculated
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.