Hartford HealthCare is seeking to expand its eastern Connecticut offerings through a $16.7 million equity stake in a Waterford ophthalmology center, according to state records.
Hartford HealthCare is seeking to expand its eastern Connecticut offerings through a $16.7 million equity stake in a Waterford ophthalmology center, according to state records.
The growing health system — which could soon encompass six acute-care hospitals — has asked state regulators permission for 233-bed Backus Hospital to acquire a controlling 51 percent stake in Constitution Surgery Center East LLC.
The total capital cost listed in Hartford HealthCare's certificate of need application is $16.7 million. Constitution, an outpatient facility that provides ophthalmology and orthopedic services, is majority-owned by a group of 21 physicians, who all have privileges at Backus or other area hospitals.
Constitution said the deal would create economies of scale in purchasing, managerial and administrative functions; help with physician recruitment; improve access to capital; and provide its physicians with more opportunities to collaborate and access new technologies through Hartford HealthCare, which performs over 11,000 ophthalmic procedures a year at its Hartford Hospital Eye Surgery Center.
Hartford HealthCare's board of directors directed Backus in July to proceed with the acquisition.
– Matt Pilon
