On May 3, 2012, the Attorney General’s Office received notice file size 1MB of the proposed sale of substantially all assets by New England Sinai Hospital, a Massachusetts non-profit long term care hospital, to an affiliate of Steward Health Care System LLC (the “Transaction”). The Attorney General’s Office will review this Transaction file size 5MB , as it does many other asset transfers by Massachusetts public charities, pursuant to Massachusetts General Laws, Chapter 180, Section 8A(c) and pursuant to its authority under the common law that applies to public charities. More information about the requirements of Section 8A(c) is available.
The transfer of a Massachusetts non-profit acute care hospital to a for-profit entity is subject to review by the Attorney General’s Office under a different section of the law (G.L. ch. 180, § 8A(d)). Because New England Sinai Hospital is a long term care hospital and not an acute care hospital, section 8A(d) does not apply to this Transaction. However, because New England Sinai Hospital and Steward Health Care System are both important parts of the health care system around which there will likely be a significant level of interest, the Attorney General’s Office will post certain information about and documents relating to the Transaction in order to continue to support the kind of transparency that we believe is important.
Documents relating to the New England Sinai Hospital Transaction can be found at the link below.
- Notice of Transaction, May 3, 2012 file size 1MB
- Exhibit A: Transaction Summary and Assest Purchase Agreement file size 5MB
- Exhibit B: Liquidity Analysis - Navigant Presentation April 2, 2012
- Exhibit C: NESH FY2011 Audited Financial Statements file size 1MB
- Exhibit D: NESH Executive Committee
- Exhibit E: Navigant Presentation to NESH Executive Committee September 27, 2011 file size 1MB
- Exhibit E: Navigant Presentation to NESH Executive Committee October 13, 2011 file size 1MB