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ECHN Board of Trustees Announces Partner Selection

MANCHESTER, CONNECTICUT – Eastern Connecticut Health Network (ECHN), the parent company of Manchester Memorial and Rockville General Hospitals, today announced that the Board of Trustees have agreed to the terms of a letter of intent to be acquired by Prospect Medical Holdings (Prospect) of Los Angeles, California.

Prospect is an innovative, privately owned healthcare services company that owns and operates 13 hospitals, with a total of 2,258 licensed beds, as well as 40 clinics and outpatient centers in diverse, high-density population areas within five markets in California, Texas and Rhode Island. Prospect also manages the provision of healthcare services for approximately 257,000 members enrolled in its networks of more than 8,900 primary care physicians and specialists.

Terms of the acquisition will be reviewed by the governing body of ECHN Corporators and a vote will be held during summer of 2015. Peter Karl, President & CEO of ECHN, stated, “The letter of intent makes clear that Prospect would continue ECHN’s longstanding commitments of providing healthcare services and charity care to the wider ECHN community and approach healthcare with a strong coordination of regional care. Prospect also has a strong track record of providing high-quality, cost-effective services to the communities it serves, working in collaboration with physicians, medical groups, community providers, payors and other key stakeholders such as labor unions. ” 

Karl said “We have been careful and deliberate with our affiliation process. We have worked hard to consider the interests and engage all of our constituents in this process, including our patients, employees, medical staff, corporators, the communities we serve and legislative and