One of Connecticut's largest hospitals announced it has entered into talks to be the first hospital to join Ascension Health Care Network, a private-equity backed effort to launch a for-profit Catholic health system.
St. Francis Hospital and Medical Center, Hartford, signed an exclusive letter of intent to join Ascension Health Care Network, a joint venture between the private equity firm Oak Hill Capital Partners and Ascension Health Alliance, which includes the nation's largest Catholic health system.
The deal, if successful, would be the joint venture's first acquisition since its launch in early 2011 after two New Jersey deals fell apart last fall. It may also signal accelerated consolidation in Connecticut's hospital market.