Waterbury Hospital has plans to be acquired by a private Los Angeles-based health care company, the latest move in the hospital’s quest for long-term stability.
The health care landscape is changing, and legislators are trying to figure out how to respond to an industry that is at once a top employer in many communities and a big driver of health care costs that are straining state, local and business budgets. Hospital officials say some of the proposals so far would take the state backwards.
Waterbury’s mayor and the state’s hospital industry say that Connecticut regulators are jeopardizing plans by a national for-profit hospital chain to buy the city’s two struggling hospitals and others in Bristol, Manchester and Vernon.
St. Mary’s Hospital in Waterbury announced plans Tuesday to be acquired by Dallas-based Tenet Healthcare Corporation, a national for-profit hospital chain that’s already in the process of purchasing hospitals in Bristol, Vernon, Manchester and Waterbury.
Gov. Dannel P. Malloy has signed a bill that clears the way for nonprofit hospitals to convert to for-profits, a measure that grew out of intense, last-minute negotiations involving hospitals, unions and lawmakers from both parties.
In crafting a last-minute compromise clearing the way for four Connecticut hospitals to be acquired by a for-profit company, lawmakers accomplished something many doubted would be possible. But for some legislators key to the deal, any sense of celebration was short-lived because of questions about whether a major player was backing out.
It came down to the final hours, but legislators tackled one of the most complex, controversial issues of the session by passing a measure that makes it easier for nonprofit hospitals to convert to for-profits and adds state oversight to hospital sales and transactions involving physician practices. Here are the basics.
Time is running out for legislators to address one of the most complex and controversial issues they’ve faced this session: whether to craft a new regulatory and statutory framework for nonprofit hospitals to convert to for-profits. What if legislators don’t take action? It’s a question with no clear answer.
One of the major issues legislators are trying to tackle this session is the ability of nonprofit hospitals to convert to for-profits. It’s a complex and highly charged issue. Here’s what you need to know.