Bristol (Conn.) Hospital remains optimistic about its future, despite a failed deal with Dallas-based Tenet Healthcare, according to a Hartford Courant report.
Tenet planned to acquire Bristol Hospital along with three other Connecticut hospitals: Waterbury Hospital; Saint Mary's Hospital in Waterbury; and Eastern Connecticut Health Network, based in Manchester.
However, earlier this month Tenet announced it would no longer pursue those efforts due to proposed conditions state regulators put on the hospital operator's purchase of Waterbury Hospital.
"The extensive list of proposed conditions to be imposed on the Waterbury Hospital transaction, which is only the first of four transactions for which we've made applications, has led us to conclude that the approach to regulatory oversight in Connecticut would not enable Tenet to operate the hospitals successfully for the benefit of all stakeholders," Tenet said in a statement last week.
Although the deal fell through, Bristol Hospital President and CEO Kurt Barwis has indicated the hospital will see a profit this year and has a sound financial picture, according to the report.
"We never stopped executing our plan to operate as a standalone community hospital," Mr. Barwis told the Hartford Courant. "We have 28 new employees in training, we're recruiting physicians. We've never stopped going forward."
Additionally, Mr. Barwis and board chairman Marie O'Brien told the Hartford Courant the hospital can still continue to improve buildings and equipment, although it won't happen as fast as it would have if Tenet had purchased Bristol.
Since the failed Tenet deal, the overall tune has been different at Waterbury Hospital, which, as of last week, had planned to seek assistance from Connecticut Gov. Dannel Malloy (D).
Earlier this month, Waterbury Hospital CEO Darlene Stromstad told WNPR News the decision left financially struggling Waterbury Hospital in a position where it is trying to determine how to cut additional costs and expenses. For now, the hospital will have a hiring freeze and "look to attrition" in the coming months, but layoffs could occur in the future, she said in the report.
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