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'Affiliation'
will serve
DKH
community
PUTNAM — Service to the community will be enhanced by the proposed strategic affiliation between Day Kimball Healthcare (DKH) and Prospect Medical Holdings (PMH), according to Joseph M. Adiletta, chairman of the DKH Board of Directors.
The affiliation will provide best practices, operating experience and resources to enhance its quality of care, services and programs. DKH would remain a not-for-profit community hospital under terms of the deal.
The parties anticipate signing a definitive agreement this fall, pending satisfactory completion of ongoing due diligence, with the final transaction planned to close upon receipt of state and federal regulatory approvals.
Adiletta said: “An affiliation with Prospect would strengthen the level of care and provide Day Kimball with the support it requires to continue to provide high quality care and to invest in and expand its facilities, staff and services. This was a very quantitative process with multiple strategic advisors. Prospect Medical Holdings will ensure Day Kimball will remain a local, community hospital, providing necessary capital to enhance services, preserving the level of quality care and maintaining our charitable mission.” The amount of the payments was not disclosed.
Adiletta said by belonging to a larger group, DKH will be able to attract more doctors and especially specialists. He added that the Small Hospital aid from the state will be going away.
“At a time when many communities are seeing their hospitals close, our health system will remain a vital part of the region we serve,” said Anne Diamond, president and CEO, Day Kimball Healthcare. “We will remain not-for-profit and continue to deliver on our community mission that began 125 years ago. Importantly, Day Kimball will continue to provide exceptional quality of care while expanding our clinical services to the greater Putnam community.”
Prospect Medical Holdings owns and operates 20 hospitals throughout the U.S., with three locations in Connecticut: Waterbury Hospital, Manchester Memorial Hospital and Rockville General Hospital, and a two hospital system in nearby Rhode Island anchored by Roger Williams Medical Center and Our Lady of Fatima Hospital.
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