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Caritas now a for-profit chain

The Boston Globe, November 9, 2010

A New York buyout firm is the new owner of Caritas Christi Health Care, the region’s second-largest hospital system, turning the nonprofit Catholic chain into a for-profit operation.

Caritas yesterday confirmed that its deal to be acquired by Cerberus Capital Management had closed, following a lengthy approval process that began in the spring.

The hospitals — St. Elizabeth’s Medical Center and Carney Hospital in Boston, Norwood Hospital, Good Samaritan Medical Center in Brockton, Holy Family Hospital in Methuen, and Saint Anne’s Hospital in Fall River — will operate under a Cerberus affiliate, Steward Health Care System LLC.

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