Updated: Friday, 02 Nov 2012, 11:45 AM EDT
Published : Friday, 02 Nov 2012, 11:45 AM EDT
WATERBURY, Conn. (AP) — Waterbury Hospital has found a new partner after failing in its year-long effort to form a joint venture with Saint Mary's Hospital and a Texas-based company.
The Republican American reports that Waterbury Hospital's parent company, the Greater Waterbury Health Network, has signed a letter of intent to develop a joint venture with Vanguard Health Systems Inc. in Nashville, Tenn.
Waterbury Hospital and Vanguard would form a limited liability company owning and operating a tax-paying, for-profit health system with Waterbury Hospital at its center.
Darlene Stromstad, the hospital's president and chief executive officer, told the newspaper that the deal is an ideal fit for growth and expansion.
She says Waterbury Hospital will retain its name, leadership team, caregivers and staff members.
Information from: Republican-American