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June 4, 2014

Malloy signs for-profit hospital legislation

Gov. Dannel P. Malloy on Tuesday signed a bill passed in the recent legislative session that effectively paves the way for more for-profit hospitals in the state.

The law, which takes effect Oct. 1, will allow for-profit operators to acquire nonprofit hospitals and physicians practices, and will also allow nonprofits to convert to for-profit status.

The governor’s signature means Tenet Healthcare Corp. can move forward with its acquisition of Waterbury, Bristol, Manchester Memorial and Rockville General hospitals.

The state’s independent nonprofit hospitals have been in talks recently about how they might partner to respond to a changing competitive landscape. The for-profit option opens up another potential avenue.

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