UMass Memorial plans to acquire Harrington HealthCare System, a Southbridge, Mass.-based system comprised of a 119-bed hospital, a satellite location and three medical office buildings.
The Harrington HealthCare System board voted the night of Jan. 28 to sign a letter of intent to pursue a deal with Worchester, Mass.-based UMass Memorial.
Under the proposed deal, which still needs regulatory approval, UMass Memorial will provide capital support for technology and building upgrades as well as support for provider recruitment.
If the deal becomes final, Harrington HealthCare will join UMass Memorial's three other Massachusetts hospitals, including UMass Memorial HealthAlliance-Clinton, UMass Memorial Marlborough Hospital and UMass Memorial Medical Center in Worcester.
"There are significantly fewer independent hospitals in the Commonwealth, and the country, compared to 20 and 30 years ago," said Ed Moore, Harrington HealthCare's president and CEO. "We are in a fortunate position in that we are a strong organization with an outstanding medical staff, talented employees and great community support; we wanted to take the reins to shape our own future."
Read the full news release here.