Yale New Haven Health System has agreed to buy two Connecticut health systems from Prospect Medical Holdings, the not-for-profit company announced Thursday.
When the transaction finalizes later this year, Waterbury HEALTH'S 357-bed Waterbury Hospital and the Eastern Connecticut Health Network's 249-bed Manchester Memorial Hospital and 102-bed Rockville General Hospital in Vernon will become part of the Yale New Haven Health System. The facilities will revert to not-for-profit status after operating as for-profit facilities under Prospect Medical Holdings, a consortium of investment firms.
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"Innovation has become a watchword for a post-pandemic healthcare environment, and we are all exploring clear opportunities to enhance access to high-quality care while driving down costs," Yale New Haven Health System CEO Marna Borgstrom said in a news release. "While this is at a very early stage, our goal is to sustain critical access to vital healthcare services directly in these local communities."
Prospect Medical Holdings is in the process of selling off a number of its hospitals, Axios reported in December.
