Because one of the Caritas Christi hospitals – Holy Family Hospital in Methuen – serves a good portion of the Merrimack Valley population I have posted a number of times about the impending take-over of this non-profit by the equity firm – Cerebus.
On the blog Health Care for All – Matt Wilson has an interesting post about what he considers to be a “done deal” and what “due diligence” needs to be required by the Attorney General:
“Caritas and Cerberus: The Train has left the Station – Looking to DPH and AG to Protect Communities and Consumers”
The proposed conversion of the Caritas Christi Hospital network from a non-profit to a for-profit owned by the Wall Street public equity firm Cerberus appears to be on the fast track. Health Care For All and residents in the hospitals’ host communities are looking to the Department of Public Health and Attorney General Martha Coakley to slow down the train and do their due diligence on this project before they give it the OK.
In comments submitted today to the DPH’s Public Health Council, Health Care For All requested that conditions be put on the sale to reduce the risk that comes with private equity money and ownership and what that means to the accessibility, affordability and quality care at the six Caritas hospitals.
The proposed purchase and for profit conversion of the six community hospitals that comprise Caritas Christi Health Care is unprecedented for the Commonwealth of Massachusetts and has significant implications for the future of health care in the state. In particular, Health Care For All has concerns about Cerberus’ long term commitment to the operation of the hospitals, Cerberus’ commitment to serving the broad needs of the community, and the ability of the Commonwealth to monitor operations and enforce future conditions at the hospitals…
Read the rest here.