Steward Health Care System, Boston, has completed its acquisition of two Massachusetts hospitals from Essent Healthcare, Nashville, according to a Steward news release (PDF).
Steward completes deal for two Mass. facilities
Financial terms were not disclosed. The hospitals are 90-bed Merrimack Valley Hospital in Haverhill and 42-bed Nashoba Valley Medical Center in Ayer. Steward agreed to provide capital for ongoing clinical and infrastructure projects; maintain salary and benefit levels for employees, charity-care policies and clinical programs; and keep the management teams, according to the release.
The deal leaves privately held Essent with three hospitals, one each in Connecticut, Pennsylvania and Texas. Steward now owns and operates eight hospitals in Massachusetts and has deals in place to acquire two more hospitals in the state.
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.