For-profit hospital operator Tenet Healthcare Corp. is ready to spend about $535 million to acquire and improve four Connecticut hospitals and related subsidiaries, according to recent filings with state regulators.
Tenet’s commitment to Waterbury Hospital — a $45 million purchase price plus a commitment to invest $55 million in improvements — has been known for more than a year. Vanguard Health Systems, which Tenet acquired in October, negotiated the Waterbury deal.
But more recent regulatory filings flesh out Tenet’s deals with Eastern Connecticut Health Network, Bristol Hospital and St. Mary’s Hospital.
The largest investment would be for Saint Mary’s, for which Tenet is prepared to pay $150 million plus an additional $85 million for capital and service improvements over seven years.
Tenet would pay $105 million for ECHN, which includes Rockville General and Manchester Memorial hospitals.
Meanwhile, Bristol Hospital would fetch $50 million, plus an additional $45 million in capital improvements, according to the filings, which are known as a certificate of need determination forms.
In the ECHN and Bristol Hospital deals, Tenet is teaming with Yale New Haven Health System in an 80-20 partnership.
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Regulators grant initial OK to Waterbury Hospital acquisition
