The Pope is cool with selling Caritas
Turns out the Vatican has no problem with selling six Catholic Hospitals to a private equity firm.
Massachusetts Attorney General Martha Coakley has already approved Caritas’s sale to private equity firm Cerberus. The state’s Public Health Council has granted the go ahead as well. And now, according to The Boston Globe, the Catholic church is giving its blessing as well.
The Globe says the Vatican sent a letter of support for the sale back in August, and The Archbishop of Boston approved the sale in August as well, but the Catholic officials didn’t make their support public until yesterday.
Now, the sale must be approved by the Massachusetts Supreme Court. The court is expected to rule on thepurchase sometime this month.
In the meantime, Caritas and Landmark Medical Center in Woonsocket are still finalizing their purchase agreement. A spokesman for Landmark says he expects to have a court hearing on that agreement within the next few weeks.