Hartford HealthCare Signs Definitive Agreement to Acquire St. Vincent’s Medical Center
October 1, 2018
Hartford HealthCare Signs Definitive Agreement to Acquire
St. Vincent’s Medical Center
BRIDGEPORT and HARTFORD, Connecticut (October 1, 2018) – St. Vincent’s Medical Center in Bridgeport has signed a definitive agreement with Hartford HealthCare (HHC) for HHC to acquire substantially all of the assets of St. Vincent’s and its related operations. The transaction is subject to required governmental approvals.
St. Vincent’s, with more than 3,200 associates, includes a licensed 473-bed community teaching hospital, a 76-bed inpatient psychiatric facility in Westport, a large multispecialty provider group, and St. Vincent’s Special Needs Services. St. Vincent’s is part of Ascension, the nation’s largest non-profit health system.
“We are delighted to have reached an agreement whereby St. Vincent’s associates, physicians and volunteers will continue to provide safe, high-quality, and accessible healthcare to the Bridgeport and Fairfield County communities,” said Patricia A. Maryland, Dr.PH, Executive Vice President of Ascension and President and Chief Executive Officer of Ascension Healthcare.
As part of Hartford HealthCare, St. Vincent’s will continue to be part of an organization that is trusted for the care it provides and for meeting the healthcare needs of the community. HHC is committed to operating St. Vincent’s in the Catholic tradition.
Hartford HealthCare, a fully integrated health system with more than 19,000 employees, currently includes six acute-care hospitals, the state’s most extensive behavioral health network, a large multispecialty physician group, a regional home care system, an array of senior care services, a physical therapy and rehabilitation network, and an accountable care organization. St. Vincent’s would be HHC’s second-largest hospital, after 867-bed Hartford Hospital.
“Hartford HealthCare and St. Vincent’s share many attributes. Our two organizations have deep roots in Connecticut. We both are committed to providing excellent, compassionate care and to creating healthier communities,” said Elliot Joseph, Chief Executive Officer of Hartford HealthCare. “We are proud of the work the people of St. Vincent’s have done so well across Fairfield County and beyond. Hartford HealthCare would be privileged to work with the St. Vincent’s team to enhance access to exceptional, personalized, coordinated care.”
“As we look forward to receiving all necessary approvals and finalizing the transaction, our caregivers, physicians and volunteers are focused on continuing to deliver safe, compassionate, personalized care to those in our community we are privileged to serve,” said Dawn Rudolph, President and CEO of St. Vincent’s Medical Center.
# # #
About St. Vincent's Medical Center
Founded by the Daughters of Charity in 1903, St. Vincent's Medical Center is a mission-driven organization committed to exceptional health care for all with special attention to persons living in poverty and those who are most vulnerable. St. Vincent’s, with more than 3,200 associates, includes a licensed 473-bed community teaching hospital, a 76-bed inpatient psychiatric facility in Westport, a large multispecialty provider group, and St. Vincent’s Special Needs Services. St. Vincent's was awarded the Nursing Magnet® Recognition, the highest national award for nursing excellence. In 2013, St. Vincent's Medical Center was named Top Performer on Key Quality Measures® by the Joint Commission, the leading accreditor of health care organizations in America, and has been recognized by both the Joint Commission and OSHA as a model of a highly reliable organization dedicated to patient safety. The American College of Surgeons Commission on Cancer awarded St. Vincent's an Outstanding Achievement Award with Accreditation in 2012, and it also has earned its designation from the National Accreditation Program for Breast Cancer. St. Vincent's Medical Center is part of Ascension, the largest non-profit health system in the U.S. and the world’s largest Catholic health system. For more information on programs and services, visit www.stvincents.org.
Ascension (www.ascension.org) is a faith-based healthcare organization dedicated to transformation through innovation across the continuum of care. As the largest non-profit health system in the U.S. and the world’s largest Catholic health system, Ascension is committed to delivering compassionate, personalized care to all, with special attention to persons living in poverty and those most vulnerable. In FY2018, Ascension provided nearly $2 billion in care of persons living in poverty and other community benefit programs. Ascension includes approximately 156,000 associates and 34,000 aligned providers. Ascension’s Healthcare Division operates more than 2,600 sites of care – including 151 hospitals and more than 50 senior living facilities – in 21 states and the District of Columbia, while its Solutions Division provides a variety of services and solutions including physician practice management, venture capital investing, investment management, biomedical engineering, facilities management, clinical care management, information services, risk management, and contracting through Ascension’s own group purchasing organization.
About Hartford HealthCare
Hartford HealthCare is Connecticut’s most comprehensive health care network. Our fully integrated health system includes a tertiary-care teaching hospital, an acute-care community teaching hospital, an acute-care hospital and trauma center, three community hospitals, the state’s most extensive behavioral health network, a large multispecialty physician group, a regional home care system, an array of senior care services, a large physical therapy and rehabilitation network and an accountable care organization. Through its institute model, Hartford HealthCare offers the highest standards of care for cancer, heart and vascular services, neuroscience, orthopedics and urology. Visit us at www.hartfordhealthcare.org.