Sharon (Conn.) Hospital saw its profit margin reach 5.18 percent in 2009 following the conversion of 78-bed entity to a for-profit hospital, according to a Hartford Business Journal report.
Nashville, Tenn.-based Essent Healthcare bought Sharon Hospital in 2002, making the former non-profit hospital Connecticut's first and only for-profit hospital, the report said. After roughly $40 million in capital investments, Sharon Hospital began recording profits. Prior to its sale, it lost $16 million in six years.
Plano, Texas-based LHP Hospital Group is set to become the second for-profit hospital operator in the state, as it will oversee the potential merger between Waterbury (Conn.) Hospital and Saint Mary's Hospital, also in Waterbury.
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Nashville, Tenn.-based Essent Healthcare bought Sharon Hospital in 2002, making the former non-profit hospital Connecticut's first and only for-profit hospital, the report said. After roughly $40 million in capital investments, Sharon Hospital began recording profits. Prior to its sale, it lost $16 million in six years.
Plano, Texas-based LHP Hospital Group is set to become the second for-profit hospital operator in the state, as it will oversee the potential merger between Waterbury (Conn.) Hospital and Saint Mary's Hospital, also in Waterbury.
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