Lawrence + Memorial Hospital
The State of Connecticut's Office of Healthcare Access (OHCA) on Sept. 8 fully approved the affiliation of L+M Healthcare and Yale New Haven Health System. The parties received regulatory approval from all State of Rhode Island agencies the week before and from the Federal Trade Commission last year.
"We are grateful for these approvals of this historic affiliation," said Marna P. Borgstrom, president and CEO of Yale New Haven Health. "Our goal has always been to enhance access to high-quality care in the most efficient manner possible for the people of southeastern Connecticut and western Rhode Island. We are confident that we can accomplish that with this affiliation of two exceptional heath systems."
L+M Healthcare is the parent organization of Lawrence + Memorial Hospital, Westerly (RI) Hospital, L+M Medical Group and the Visiting Nurse Association of Southeastern Connecticut (VNASC).
Westerly Hospital
Per the affiliation agreement, L+M Healthcare is set to become a full corporate member of YNHHS and maintain its local board of directors with fiduciary responsibility. Each hospital, and the VNASC, will maintain its identity, and the hospitals will maintain separate licenses and medical staffs.
With the transaction closed, Lawrence + Memorial and Westerly hospitals will become the first hospitals to join YNHHS as a corporate member since Greenwich Hospital affiliated in 1998. (The Hospital of Saint Raphael was an acquisition by YNHH – a very different type of transaction.)
Under the OHCA approval, YNHHS and L+M have agreed to conduct a market assessment that will establish baseline pricing levels in the region, and have agreed to the appointment of an independent monitor to assess the impact on the market for a period of five years. Additionally, under the conditions, Yale New Haven has agreed to maintain services in specialties such as cardiology, obstetrics, behavioral health and critical care for at least five years.
Employees of Lawrence + Memorial and Westerly hospitals will remain employed by L+M Healthcare. Over time, L+M Medical Group will merge with Northeast Medical Group. YNHHS has agreed to recognize and honor all existing labor contracts within the L+M Healthcare system.
"We are truly excited about this affiliation, especially as we have gotten to know and appreciate the quality of the medical staff, employees and board members associated with L+M Healthcare," said Borgstrom. "We welcome them to YNHHS and look forward to a long and successful future serving the critical healthcare needs of patients in this region."
