BOSTON – Taunton’s Morton Hospital and Medical Center has decided to join a for-profit hospital chain, turning down an offer from nonprofit Southcoast hospital network, the Boston Globe reported on Wednesday.
Morton’s board voted to join Steward Health Care, which was set up to run the six former Caritas Christi hospitals by private equity firm Cerberus Capital Management.
The newspaper said officials from Morton and Steward declined to comment on the deal and that it must be approved by the state attorney general’s office.
Keith Hovan, president of the Southcoast hospital network, was notified on Wednesday morning that his network’s competing offer was being turned down by Morton.
“We really feel like we put a very fair and reasonable offer on the table,” Hovan said to the Boston Globe. “It seems like money talks.”