Lifespan enters agreement to purchase Saint Anne’s Hospital and Morton Hospital
by NBC 10 NEWS
(WJAR) — Lifespan is one step closer to acquiring two Steward Hospitals.
Lifespan said it has been chosen as the winning bidder to purchase Saint Anne’s Hospital in Fall River and Morton Hospital in Taunton.
Massachusetts Gov. Maura Healey also announced that Lifespan has filed an asset purchase agreement to acquire and operate the two hospitals.
According to Lifespan, it is also planning to purchase the land and the buildings used by the two hospitals, which would amount to $175 million. Officials said the purchase would be debt financed.
State officials said the agreements will have to be approved by the bankruptcy court at an upcoming hearing next Wednesday.
If the sale is approved, Lifespan officials said the two hospitals would be owned by Lifespan of Massachusetts, an owned affiliated of Lifespan.
“I am confident our team has the experience and know-how to rebuild the infrastructure of these two hospitals and operate them as successful and thriving not-for-profit organizations,” said Lifespan President and CEO John Fernandez. “Adding Saint Anne’s and Morton hospitals creates a unique opportunity to build our regional healthcare organization that will benefit the health of the communities in both states.”
Healey also announced thatLawrence General Hospital entered an agreement to acquire and operate both campuses of Holy Family Hospital in Haverhill and Methuen.
The Massachusetts governor’s office said it will be supporting the new operations for a limited timeframe.
In May, Steward Health Care filed for bankruptcy. Healey and her team have been working to find a way to keep these facilities operating, according to officials.