Burlington, Mass.-based Wellforce, the parent company of Boston-based Tufts Medical Center, received state approval to acquire Medford, Mass.-based Hallmark Health without an intensive state review, according to Boston Business Journal.
A spokesperson for the Health Policy Commission, an organization charged with monitoring healthcare spending in the state, said a preliminary review of the agreement showed that the transaction is expected to decrease hospital market concentration and has the potential to reduce costs without negatively impacting access to or quality of care, according to the article.
The department of public health has yet to sign off on the transaction.
The decision comes nearly a year after the state halted the potential partnership with Boston-based Partners HealthCare, according to the article. Discussions regarding a potential affiliation between Wellforce and Hallmark Health began July 1.
Editor's note: This story was updated Sept. 27. A previous version of the story mistakenly stated that Boston-based Partners HealthCare, not Wellforce, was approved by the commission to acquire Hallmark. Becker's regrets the error.
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