Bristol Hospital and Health Care Group, Inc. is in the process of being acquired by Vanguard Health Systems, Inc., of Nashville, Tennessee.
A letter of intent has been signed, according to Bristol Hospital officials.
“This honors the long-standing heritage of Bristol Hospital and its mission to care for the patients and families in our communities,” Marie O’Brien, chairman of the Bristol Hospital Board of Directors, said in a statement released on Wednesday. “By becoming part of a high-performance integrated care network with new financial resources, clinical excellence and innovative opportunities presented under the Patient Protection and Affordable Care Act, the board is assured that our commitment to care will continue for generations to come.”
The financial terms of the deal are not being disclosed, but O’Brien said that the board is satisfied with the terms and conditions of the deal.
Bristol Hospital officials said they plan to renovate its main campus and expand its outpatient services.
Over the next 60 days, both sides will be working on the plan, which includes approval from the state Office of Health Care Access and the Office of the Attorney General.
Bristol Hospital also recently signed a new network member agreement with Yale-New Haven Health System, which includes the coordinating joint clinical programs and the development of protocols used when patients are transferred to Yale-New Haven Hospital for tertiary and quaternary care.