Proposed: Waterbury new $400M Hospital

[The Voice of Reason]

Waterburys two hospitals will be merging and a new building will be built to replace the aging buildings.

this is pretty massive as it not only marks the merger, but the transition from not for profit to a for profit company. and LHP is getting serious about CT.

too bad its not HH buying one of these as I would really like to see the HH organization grow into a for profit regional powerhouse.

http://www.hartfordbusiness.com/news20130.html

http://www.courant.com/community/waterbury/hc-waterbury-stmarys-merger-0824-20110823,0,1656651.story

The combined revenue of both hospitals will be over $520 million, making it one of the larger hospitals in the state.

The combined joint venture would also include Texas-based LHP Hospital Group, which agreed earlier this year to buy a stake in St. Mary's Hospital.

LHP will own an 80 percent interest in the combined joint venture, with Greater Waterbury Health Network, parent of Waterbury Hospital, and St. Mary's each owning a 10 percent interest. Governance in the for-profit entity will be shared among all three parties.