The planned transfer of Mercy Medical Center to Baystate Health, both in Springfield, Mass., remains on schedule for Nov. 1, pending regulatory approval, a spokesperson for Hartford, Conn.-based Trinity Health of New England told Becker’s Oct. 19.
Under the proposed agreement, Baystate would assume control of the 182-bed hospital from Trinity Health of New England. The deal is structured as a membership transfer rather than a traditional asset sale, allowing Mercy to retain its existing legal entity under new governance.
The transaction is valued at $293 million, according to a filing with the Massachusetts Department of Public Health. The figure reflects Mercy’s operating revenue for its most recently reported full fiscal year.
Baystate and Trinity Health of New England reached a definitive agreement in April covering Mercy Medical Center, its affiliated medical groups and joint ventures.
Becker’s has reached out to Baystate Health for comment and will update this story as more information becomes available.
The post Baystate takeover of Mercy Medical on track for Nov. 1 appeared first on Becker's Hospital Review | Healthcare News & Analysis.