In a Feb. 15 article on Ascension Health Care Network's talks to acquire Hartford, Conn.'s Saint Francis Care, Catholic Health World reported that the for-profit company's acquisition strategy is to acquire equity-starved Catholic entities.
To clarify, while some potential acquisitions may be distressed organizations, most will not, according to Leo Brideau, president and chief executive of Ascension Health Care Network. He said that while most potential acquisitions — Saint Francis Care included — will be financially stable enough to operate as stand-alone facilities or small systems, they may not have the capital necessary to achieve the scale and scope required to excel in the post-health care reform environment. Joining Ascension Health Care Network would help give them access to the capital needed to adjust to this environment, Brideau said.
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