Sale of Caritas Hospitals Gets Court O-K
BOSTON (AP) - A justice of the state's highest court has signed off on the proposed sale of six Boston-area hospitals to a New York private equity firm that intends to turn the chain into a for-profit venture.
Attorney General Martha Coakley previously approved the $895 million deal to sell Caritas Christi Health Care to Cerberus Capital Management.
Supreme Judicial Court Justice Francis Spina held a hearing on the sale and approved the transaction on Friday.
Approvals from both Coakley and the SJC were required because the sale would change Caritas from nonprofit to for-profit status.
Supporters of the deal say it will ensure the viability of the hospitals, formerly run by the Roman Catholic Archdiocese of Boston. Caritas has hospitals in Boston, Brockton, Fall River, Methuen and Norwood.
Opponents are worried the hospitals will lose their Catholic identity.
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