Under a proposed merger plan, Connecticut's Yale-New Haven Hospital will buy the assets of Hospital of Saint Raphael, also in New Haven, to create a single hospital with two campuses, according to a Hartford Courant report.
Yale-New Haven and St. Raphael first announced merger discussions in March when they signed a letter of intent. Under the agreement, St. Raphael campus will continue to operate under the ethical and religious directives for Catholic healthcare services. A name has not been announced for the combined hospital.
St. Raphael, a 511-bed hospital, had an operating deficit of $14.1 million in fiscal year 2009, which narrowed to less than $1 million last year. Under the merger, it will combine with the state's largest hospital, as Yale-New Haven has 966 beds.
Connecticut's Waterbury Hospital, St. Mary's Health to Merge Under JV With LHP
Connecticut's Johnson Memorial, Saint Francis Care Enter Affiliation Talks
Yale-New Haven and St. Raphael first announced merger discussions in March when they signed a letter of intent. Under the agreement, St. Raphael campus will continue to operate under the ethical and religious directives for Catholic healthcare services. A name has not been announced for the combined hospital.
St. Raphael, a 511-bed hospital, had an operating deficit of $14.1 million in fiscal year 2009, which narrowed to less than $1 million last year. Under the merger, it will combine with the state's largest hospital, as Yale-New Haven has 966 beds.
Related Articles on Hospital Mergers in Connecticut:
Connecticut's Yale-New Haven and Hospital of Saint Raphael Sign Letter of IntentConnecticut's Waterbury Hospital, St. Mary's Health to Merge Under JV With LHP
Connecticut's Johnson Memorial, Saint Francis Care Enter Affiliation Talks