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Yale New Haven Health moves to sue Prospect to get out of sale

May 6, 2024
CT Mirror
Contributed by: Drex DeFord
Summary
Yale New Haven Health (YNHH) has initiated legal action to exit its $435 million contract to acquire Manchester Memorial, Rockville General, and Waterbury hospitals from Prospect Medical Holdings, citing breaches of contract. YNHH alleges Prospect defaulted on financial obligations, let facilities deteriorate, and engaged in mismanagement, affecting the agreement negatively. Despite attempts to renegotiate the purchase price after a cyberattack and financial revelations about Prospect, discussions have stalled. Prospect counters these allegations, claiming it offered YNHH a fair price reduction and that its Connecticut facilities are financially recovering. The dispute has reached Connecticut's Superior Court, with both parties presenting conflicting accounts of their attempts to salvage the deal, and the state having previously approved the acquisition. Governor Ned Lamont urges both sides towards resolution, emphasizing the lawsuit's intention to facilitate, not obstruct, the sale's completion.
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