Effective July 1, Partners HealthCare and its Massachusetts General Hospital, both based in Boston, have closed their transaction with Cooley Dickinson Hospital in Northampton, Mass., making Cooley Dickinson an affiliate hospital.
The affiliation will include telemedicine partnerships, reducing costs and prices by gaining scale, partnering on group purchasing, centralizing business operations and developing population health management strategies. Cooley Dickinson will keep its name, but it will adopt a new logo denoting it is now part of Mass General. Financial details of the deal were not disclosed.
In addition, the transaction allows Cooley Dickinson to remain independently licensed. However, Mass General will appoint up to six trustees on Cooley Dickinson's board of 28 trustees.
Cooley Dickinson, which had considered seven different hospital partners over a three-year process, and Mass General have worked on the affiliation details since February 2012. This past May, the Massachusetts Public Health Council granted a license to Mass General to acquire Cooley Dickinson, and in June, Partners received approval from the state attorney general's office to move forward with the transaction.
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