Senator Baddour: “Caritas-Cerberus Sale Approved by AG”

According to an article in today’s on-line edition of the Eagle-Tribune, State Senator Steven Baddour (D) of Methuen was contacted by the Attorney General Martha Coakley’s  office this morning with the news that the Caritas Christi Heath Care-Cerberus sale will be approved but with some restrictions.

According to the E-T article:

The Attorney General’s office will approve the sale of the Caritas Christi Health Care chain, including Holy Family hospital, said state Sen. Steven Baddour. Baddour, D-Methuen, said the state agency called him this morning to say the $850 million sale of the hospital chain to the private-equity firm Cerberus Capital Management will go forward with “agreed upon restrictions.”

“This is great news, great news for the Valley,” Baddour said.

Holy Family Hospital – one of the six hospitals in the Caritas Christi system – is located in the Merrimack Valley in the city of  Methuen in Senator Baddour’s  senatorial district.

Read the full Eagle-Tribune  article here. Stay tuned as the story unfolds.