Saints Medical Center in Lowell, Mass., has entered into an asset purchase agreement to become a part of Boston-based Steward Health Care, according to a joint news release.
As part of the affiliation agreement, Steward will provide Saints Medical Center with $5 million immediately for capital needs and a capital commitment of a $35 million investment over five years, the release said.
According to the release, Saints Medical Center will also retain its acute-care status for a minimum of 10 years, and Steward will maintain all community charity and benefits at their current levels.
Read the news release on Steward Health Care and Saints Medical Center (pdf).
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As part of the affiliation agreement, Steward will provide Saints Medical Center with $5 million immediately for capital needs and a capital commitment of a $35 million investment over five years, the release said.
According to the release, Saints Medical Center will also retain its acute-care status for a minimum of 10 years, and Steward will maintain all community charity and benefits at their current levels.
Read the news release on Steward Health Care and Saints Medical Center (pdf).
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