Financially troubled Putnam, Conn.-based Day Kimball Healthcare is to receive $10 million in local government payments after state lawmakers helped secure the money for the 2024/2025 budget session.
Day Kimball will receive $8 million by June 30, 2024, and a further $2 million by June 30, 2025. The news comes after the system reported an operating loss of $1.8 million on revenue of $145 million for the period ending Sept. 30.
The funds will be used for investment in both in the development of the system's clinical program and to support operational stabilization, CEO Kyle Kramer said in a June 8 news release from state Sen. Mae Flexer.
"Day Kimball Health's board and leadership team have been working tirelessly with our local, state, and federal delegation to secure financial support that will allow DKH to continue to provide the fullest array of services to those we are privileged to serve in our region," he said.
Tewksbury, Mass.-based Covenant Health and Day Kimball had been negotiating over years to come together when Covenant suddenly called off the deal March 13.