State regulators with the Office of Health Care Access gave approval for New London, Conn.-based Lawrence + Memorial Hospital to join Yale-New Haven (Conn.) Health System, reports The Connecticut Mirror.
Here are four things to know about the affiliation.
1. Regulators' approval of the affiliation comes a day after Connecticut Gov. Dannel P. Malloy (D) updated an executive order issued in February to extend the moratorium on hospital mergers in the state for five more months.
2. As part of the affiliation, Yale will provide $163 million in capital improvements at L + M, according to the article.
3. Since the deal is an affiliation, it does not involve a purchase price.
4. The L + M board will still directly manage L + M and its subsidiary, Westerly (R.I.) Hospital, "subject to certain rights...with respect to fundamental strategic, financial and governance matters," according to The Connecticut Mirror, which cites the decision by the Office of Health Care Access.