September 11, 2012

Yale-New Haven acquiring Hospital of St. Raphael

Yale-New Haven Hospital is acquiring the Hospital of Saint Raphael, making it one of the largest hospitals in the country, The Associated Press reports.

Yale-New Haven will add 511 beds for a total of 1,519 beds and more than 12,000 employees. The hospitals tried to minimize job losses by keeping vacant positions open, but about 200 positions will be eliminated, officials said.

The $160 million deal, which has received regulatory approval, will provide Yale-New Haven with the additional capacity it needs to meet current patient demand while providing financial stability at the Hospital of Saint Raphael campus, officials said.

Hospital officials, who plan to sign the closing documents Tuesday, say Saint Raphael's Catholic heritage will continue, with procedures such as abortion not performed at its campus. An oversight committee will ensure that Catholic teachings are upheld at the campus, officials said.

Yale-New Haven plans to invest more than $100 million in the Saint Raphael's campus, including renovating a patient care unit and providing high-tech equipment, he said.

Saint Raphael's had several years of financial difficulty. Under the deal, Yale-New Haven will pay off its debt of about $75 million, O'Connor said.

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