Executives from Boston-based Caritas Christi Health Care have said the system will close two hospitals — St. Elizabeth's Medical Center and Carney Hospital, both in Boston — if its deal to be acquired by private equity firm Cerberus Capital Management is not completed, according to a Boston Globe report.
The announcement was made as the six-hospital health system negotiated a new contract with the Massachusetts Nurses Association. Caritas Christi said the closures would be required to gain control of financial losses. The health system asked the nurses to accept a wage freeze, but no agreement has been reached.
Cerberus Capital and non-profit Caritas Christi announced their deal in March. They are currently awaiting a recommendation from Massachusetts Attorney General Martha Coakley on the deal.
Read the Boston Globe report on Caritas Christi.
Read more coverage on Caritas Christi:
- Competitors of Caritas Christi Seek Strict Rules for the System Following Sale to For-Profit Firm
- Private Equity Firm to Acquire Boston's Caritas Christi Health Care
The announcement was made as the six-hospital health system negotiated a new contract with the Massachusetts Nurses Association. Caritas Christi said the closures would be required to gain control of financial losses. The health system asked the nurses to accept a wage freeze, but no agreement has been reached.
Cerberus Capital and non-profit Caritas Christi announced their deal in March. They are currently awaiting a recommendation from Massachusetts Attorney General Martha Coakley on the deal.
Read the Boston Globe report on Caritas Christi.
Read more coverage on Caritas Christi:
- Competitors of Caritas Christi Seek Strict Rules for the System Following Sale to For-Profit Firm
- Private Equity Firm to Acquire Boston's Caritas Christi Health Care