Overview

• Court documents identify ECHN Holdings, a Hartford HealthCare subsidiary, as the stalking-horse selected Sept. 12 for Manchester Memorial and Rockville General, with $86.1 million in aggregate consideration subject to working-capital adjustments.
• Hartford HealthCare says the transaction will proceed through a complex bankruptcy process over the coming weeks, and it pledges investments to stabilize staffing and improve quality and safety.
• If the sale closes, Hartford HealthCare would grow from seven to nine hospitals.
• Prospect Medical filed for Chapter 11 in January after sustained financial strain and service cuts at its Connecticut hospitals, drawing criticism from lawmakers and local officials.
• Separate discussions continue about UConn Health potentially acquiring Waterbury, Bristol and Day Kimball hospitals, and Yale New Haven Health’s prior dispute with Prospect has a settlement in principle.