Caritas Sale to Cerberus Approved By Massachusetts SJC
The Boston Globe is reporting on “breaking news” that Supreme Judicial Court Justice Francis Spina held a hearing on the sale of the Caritas Christi Heath Care system to Cerberus Capital Management today. Justice Spina signed-off on the transaction tranferring the assets of a non-profit entity to a for-profit entity. This was the final approval needed since Attorney General Martha Coakley already approved – with conditions – and the Department of Public Health agreed to the licensure of the six hospitals in the system under the new ownership.
While there are still skeptics and opponents of the deal with Cerberus, supporters say that the the “viability of the hospitals, formerly run by the Roman Catholic Archdiocese of Boston” is now assured. Caritas has hospitals in Boston, Brockton, Fall River, Methuen and Norwood. Caritas Holy Family Hospital in Methuen is part of the system and serves many consumers in the communities of the Merrimack Valley.
Read the full article here at Boston.com.