In April Waterbury Hospital votedto merge with LHP Hospital Group and Saint Mary's Hospital and create a new $400 million hospital to replace the two hospitals. On Monday, a public hearing will be held to discuss the community impact on the proposed merger.
Officials at Greater Waterbury Health Network said in August that they had signed a letter of intent to merge with the previously announced joint venture between LHP Hospital Group, Inc. and Saint Mary's Health System.
The proposal is for LHP will have an 80 percent ownership stake in the new organization, with Waterbury Hospital and Saint Mary’s Hospital each owning a 10 percent interest.
The Waterbury Hospital membership board voted in April and the hospital has submitted a Certificate of Need to the state.
LHP will own an 80 percent interest in the combined joint venture, with GWHN and Saint Mary’s each owning a 10 percent interest. All three will share governance.
The hearing will be held at the Legislative Office Building in Hartford, room 1-C, from 2 p.m. to 4 p.m.The Office of the Comptroller, the CT General Assembly’s Public Health Committee and the Permanent Commission on the Status of Women are sponsoring the hearing.
The state Office of Healthcare Access and the state Attorney General’s Office, as well as federal regulators must approve the entire transaction.
Officials previously said the joint venture would allow Waterbury Hospital to retire all of its existing debt and provide security for its pensioner.
