(CBS Connecticut) — Saint Mary’s Hospital says it has reached an agreement to be acquired by a subsidiary of Texas-based Tenet Healthcare. Tenet is a healthcare services company operating 79 acute care hospitals in 16 states — including five Catholic Hospitals.
Tenet also is in the process of acquiring Waterbury Hospital, Bristol Hospital and the Eastern Connecticut Health Network. The deal still must be approved by state and federal regulatory agencies.
Saint Mary’s says uner the new arrangement it will be able to maintain its current ethical and religious directives and to provide the same charity care and uncompensated care it has provided.
Saint Mary’s CEO Chad Wable, said of the decision “We are pleased to choose Tenet as our preferred partner after a lengthy selection process. This is a dynamic time in healthcare, and we believe that Tenet is the best choice to help Saint Mary’s achieve our goal to be one of the region’s leading healthcare providers. Our community and our caregivers will benefit immensely from the capital and expertise that Tenet will bring to Saint Mary’s.”