A cash infusion from the prospective buyer Cerberus Capital Management will accelerate long-overdue renovations and upgrades at Caritas Christi Health Care’s six Massachusetts hospitals, writes The Boston Globe.
The private equity firm’s $830-million deal to buy the Catholic hospital chain includes a promise to invest $100-million in improvements.
If approved by state officials and the Archdiocese of Boston, the deal would convert Caritas into a for-profit entity.
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0 Responses to New Buyer’s Cash Could Speed Upgrades at Caritas Hospitals
0101101 - March 29, 2010 at 10:17 pm
This may be new for those in the non-profit sector, but I suggest you look deeply into the history and strategies of Cerberus Capital Management before you start celebrating.