Owing to the Catholic Medical Center’s financial condition, New Hampshire’s Attorney General has approved the terms of sale of the Manchester-based facility to an out-of-state for-profit company.
CMC officials claim the sale to Tennessee-based HCA Healthcare was necessary since the facility’s revenue had been rapidly declining, in some cases facing losses of up to $3 million per month.
“This settlement represents a thoughtful approach that both addresses the insurmountable financial challenges CMC is facing and ensures that the healthcare needs of New Hampshire residents continue to be met,” Attorney General John Formella said in a news release.
CMC’s financial condition had been impeding operations, which led to an inability to recover from losses.
HCA has agreed to acquire all of CMC’s assets—a 330-bed acute care hospital and all other healthcare services. The two organizations had been negotiating an agreement since 2023, and HCA has pledged to maintain CMC’s catholic identity and has promised a $200-million capital commitment to modernize and upgrade key clinical services.
While the AG’s review of the sale concluded that HCA’s acquisition would be in the best interest of Granite Staters, and will help preserve essential healthcare services for Manchester residents and neighboring communities, many are criticizing the privatization of the hospital on social media.
“There are markets in which profit should never be the incentive,” one person wrote in a Reddit comment.
In order to take over, HCA has received confirmation from the Bishop of Manchester and the Holy See in Rome.
HCA will be required to release an annual report laying out how it will follow the terms of agreement over the next decade, which will be subject to the attorney general’s review.
The sale has been scheduled to be finalized on January 31.
