Breaking News: Caritas Sale Wins Final Approval From State

This article is more than 10 years old.

The Boston Globe reports that a state judge has blessed the sale of Caritas Christi hospitals to the New York equity firm, Cerberus Capital Management, meaning that the takeover is virtually guaranteed.

Under the judgment from Associate Justice Francis X. Spina, the Boston-based Caritas chain of six Catholic hospitals across eastern Massachusetts will be allowed to convert from a nonprofit organization to an investor-run business owned by New York private equity firm Cerberus Capital Management.

The report says that Caritas, which operates the state's second largest hospital system, and Cerberus, must still "close on the deal" before it takes effect.

This program aired on October 29, 2010. The audio for this program is not available.

Rachel Zimmerman Twitter Health Reporter
Rachel Zimmerman previously reported on health and the intersection of health and business for Bostonomix.