Manchester-based Catholic Medical Center, Wolfeboro-based Huggins Hospital and Peterborough-based Monadnock Community Hospital ─ all in New Hampshire ─ will move forward with a proposed affiliation agreement, according to the ManchesterInkLink.com.
The director of charitable trusts unit, part of the office of the attorney general, approved the affiliation agreement, stating that it meets the requirements of state law, according to the article.
According to the agreement, the affiliation will create a new organization called GraniteOne Health. Each hospital will have representation on the new entity's board and will also continue to maintain their own local boards, identities and assets.
Officials said the affiliation will be finalized by the end of December, pending the necessary regulatory approvals.
"This is an exciting moment for health care in New Hampshire," said CMC President and CEO Joseph Pepe, MD. "No hospital can be expected to 'go it alone' anymore. With GraniteOne Health, we are forming a new collaboration to navigate the changing marketplace, joining together to improve access to care and provide greater value for our patients and communities."