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Equity firm set to buy MA-based Caritas Christi Health Care

Boston Globe, March 25, 2010

Caritas Christi Health Care, Massachusetts' second-largest hospital group, is set to disclose that it has agreed to be acquired by New York private equity firm Cerberus Capital Management in an $830 million deal that hospital officials say will allow the chain to shed debt and make major improvements. Under the agreement, Caritas Christi's management in Boston will continue running the Catholic community hospitals. In addition, Cerberus has pledged to keep the system's 12,000 employees and won't sell the hospitals or take them public for at least three years, the Boston Globe reports.