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Agreement will assure Catholic identity of Caritas hospitals


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BRAINTREE -- After a lengthy process, the Archdiocese of Boston says it has reached an agreement with a venture capitalist firm that will keep hospitals of the Caritas Christi Health Care afloat as well as maintain their Catholic identities.

On April 30, the archdiocese and Caritas Christi Health Care, which operates six Catholic hospitals in the archdiocese, reached an agreement that ensures the Caritas Christi hospitals will retain their Catholic identity once the transaction transferring ownership of the Caritas Christi system to Steward Health Care is finalized.

Steward is the recently-formed affiliate of Cerberus Capital Management, the investment firm that is purchasing the hospitals’ assets for $830 million this year.

“The Stewardship Agreement memorializes Steward’s commitment to maintain the Catholic identity of the Caritas Christi Healthcare system and its fidelity to the mission of the Church’s healthcare ministry,” Father Richard Erikson, the archdiocese’s vicar general and moderator of the Curia, said in a May 6 statement announcing the agreement.

“The transaction with Steward will provide the system much needed capital for its infrastructure, programs and pension funds while continuing to provide high quality healthcare in accord with the Ethical and Religious Directives for Catholic Health Care Services adopted by the United States Conference of Catholic Bishops (USCCB),” he continued.

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