Goodall Hospital in Sanford, Maine, has called off a possible merger with MaineHealth, according to a report by Sanford News.
Goodall announced that it would explore a merger with MaineHealth in August; however, the two groups recently called off the merger as a result of the cost required to respond to the Federal Trade Commission’s request for additional information to approve the transaction, according to the report.
The two groups initially believed the merger would be approved fairly quickly because the FTC provides clearance for mergers that involve hospitals under a certain number of beds, and 58-bed Goodall fell under that guideline. However, the FTC requested more information on the merger both informally and then formally. According to the report, some information requested dated back to 1999.
Goodall has been struggling financially and cut approximately 30 jobs last year in order to make up for the shortfall, according to the report.
Read the Sanford News’ report on the called off Goodall Hospital and MaineHealth merger.
Goodall announced that it would explore a merger with MaineHealth in August; however, the two groups recently called off the merger as a result of the cost required to respond to the Federal Trade Commission’s request for additional information to approve the transaction, according to the report.
The two groups initially believed the merger would be approved fairly quickly because the FTC provides clearance for mergers that involve hospitals under a certain number of beds, and 58-bed Goodall fell under that guideline. However, the FTC requested more information on the merger both informally and then formally. According to the report, some information requested dated back to 1999.
Goodall has been struggling financially and cut approximately 30 jobs last year in order to make up for the shortfall, according to the report.
Read the Sanford News’ report on the called off Goodall Hospital and MaineHealth merger.