Yale New Haven Health terminates purchase deal for Waterbury Hospital due to Prospect Medical Holdings' contract breaches and financial issues.
Yale New Haven Health seeks to terminate its purchase deal for Waterbury Hospital, blaming Prospect Medical Holdings for breaching their contract with defaults on rent, tax liabilities, and mismanagement. Yale New Haven Health announced in 2022 a $435M deal with Prospect, but after a cyberattack and revelations of Prospect's financial issues, Yale requested a price revision. The two parties have not reached an agreement, prompting Yale to sue Prospect.
May 03, 2024
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