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Boston-based Caritas financing deal put on hold; 160 face layoffs

Boston Globe, December 5, 2008

A $100 million financing deal between Boston-based hospital chain Caritas Christi Health Care and Ascension Health of St. Louis is on hold, leaving Caritas without needed capital. At the same time, Caritas Christi plans to lay off about 160 workers—1.2% of it workforce of 13,000—to cut expenses. The two moves make a financial turnaround for the Archdiocese of Boston's six-hospital chain more challenging for chief executive Ralph de la Torre.