Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Failed merger won't stop Mass. hospital from $200M expansion

South Shore Hospital in South Weymouth, Mass., is planning to invest $200 million on facility and software upgrades after its planned merger with Boston-based Partners HealthCare failed in 2015, according to the Boston Globe.

The 370-bed hospital plans to upgrade the facility by adding two floors to an existing building, constructing a new critical care unit, converting the existing critical care unit into a medical and surgical area and launching an EHR developed by Verona, Wis.-based Epic Systems. The renovations are expected to cost roughly $200 million. Hospital officials said the new EHR system is scheduled to launch in July 2017.

SSH received $137 in bond financing from the state's economic development agency to finance part of the construction.

The hospital was in talks to be acquired by Partners for several years. Partners abandoned the deal after state officials voiced concern over antitrust issues and higher medical spending statewide, according to the Globe report.

After the deal fell apart, SSH acquired 70 new physicians, hired a new CEO and began marketing its parent company under its current name.

The software and construction projects are expected to add more than 220 employees to its current 5,000-person staff.

SSH officials also said the construction and renovation projects are scheduled to take more than two years to complete, according to the Globe.

More articles about transactions and valuations:
Central Iowa Healthcare, Mary Greely Medical Center and LHP Hospital Group explore partnership
Conn. officials OK Prospect's $43M purchase of Waterbury Hospital
Massena Memorial Hospital considers 17 health systems for partnership

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars