With its cross-town rival on the verge of obtaining a game-changing $200 million cash injection, Waterbury Hospital isn’t standing idly by.
The 292-bed not-for-profit health care provider has hired a New York-based investment banking firm to find the hospital a third-party capital partner or to help broker a merger with St. Mary’s Hospital, according to an internal memo sent out by Waterbury Hospital CEO Stephen Laverty.
The memo, obtained by the Hartford Business Journal, said Waterbury Hospital tapped Cain Brothers, an investment banking and strategic advisory firm that focuses exclusively on the health care industry, about three weeks ago to explore “all possible options.”
The move comes on the heels of an announcement by St. Mary’s Hospital Tuesday that it was accepting a $200 million capital investment from a Texas-based private hospital operator.
