Connecticut Bonds $390M for UConn Health and Waterbury Hospital

Connecticut’s gearing up for a big shakeup in its hospital scene. The state plans to borrow $390 million to expand UConn Health and buy several hospitals currently owned by private equity firms.

This move, part of the old “UConn 2000” bonding program, aims to protect local healthcare access. It’s especially urgent in places where hospitals are struggling to stay afloat.

Find Your Ideal Getaway in Connecticut
Explore top-rated stays with no booking fees and instant confirmation. Your dream trip starts here!
Start Exploring Now

The plan covers the purchase of Waterbury Hospital and possibly Bristol and Day Kimball hospitals. There’s also a chunk set aside for infrastructure, technology, and patient care upgrades.

Major Hospital Expansion Plans for UConn Health

Connecticut officials are worried about the stability of the healthcare system, especially in towns like Waterbury, Bristol, Putnam, Manchester, Vernon, Hartford, New Britain, and Middletown. Governor Ned Lamont’s team hopes this expansion will not just keep care available, but also boost UConn Health’s reach and resources.

Targeted Acquisitions and Funding Breakdown

Out of the entire fund, $13 million is set for buying Waterbury Hospital. Some of the money will go toward IT upgrades, new medical equipment, and basic facility maintenance—Waterbury Hospital’s still dealing with fallout from a major 2023 cyberattack.

The state’s also keeping options open for buying Bristol Hospital and Day Kimball Hospital in Putnam. All these purchases would roll into the $390 million borrowing plan.

Lawmakers say these acquisitions are crucial to prevent care gaps, especially in places where people don’t have many medical options.

Unpaid Taxes and Legislative Support

One sticking point: Prospect Medical owes state and local taxes that could add up to as much as $100 million. Lawmakers are thinking about forgiving these debts so UConn Health can take over.

House Speaker Matt Ritter says he’d support that if it keeps the hospitals running. The debate’s definitely not settled, but urgency is in the air.

Lawmakers Voice Their Positions

State Sen. Saud Anwar backs the plan, pointing to the need for local access to quality healthcare. With closures and cutbacks in Manchester, Rockville, and Bristol, leaders warn that inaction could seriously hurt people who rely on nearby hospitals.

UConn Health’s Financial Challenges

From 2020 to 2023, UConn Health lost about $140 million each year. These losses make it clear that something’s got to give—whether that’s partnerships, acquisitions, or just expanding what UConn Health does.

Leaders are counting on the borrowed funds to steady the ship and maybe spark some real, sustainable growth.

Interaction with Ongoing Bankruptcy Proceedings

Meanwhile, Prospect Medical Holdings is selling Manchester Memorial Hospital and Rockville General Hospital through bankruptcy court. Hartford HealthCare has already bid $86.1 million for those properties, so it’s not like UConn Health is the only player in town.

The Future of Hospital Care in Connecticut

Folks in Waterbury, Bristol, Putnam, Manchester, Vernon, Hartford, New Britain, and Middletown are keeping a close eye on all this. Having a decent hospital nearby can literally be a matter of life or death.

This expansion plan isn’t just about buildings and equipment—it’s about keeping communities connected to care when they need it most.

Key Points for Residents and Patients

Under this proposal:

Waterbury Hospital would be purchased for $13 million.
Potential acquisitions include Bristol Hospital and Day Kimball Hospital.
Upgrades to IT, medical equipment, and facility maintenance are a priority.
Prospect Medical’s $100 million unpaid tax debt may be forgiven to help move the deal forward.
Hartford HealthCare is pursuing separate acquisitions through bankruptcy proceedings.

If state officials approve the plan, Connecticut’s healthcare map could look very different. UConn Health’s academic and clinical resources would combine with local hospital networks.

The proposal faces some real hurdles, from tough financial questions to political wrangling. Still, it marks one of the boldest public health infrastructure moves the state has tried in decades.

For towns like Waterbury and New Britain, this could open a new chapter in keeping quality care nearby. Folks in these communities might see better access and more reliable services, though nothing’s set in stone just yet.

Here is the source article for this story: CT to bond $390 million for UConn Health, Waterbury Hospital

Discover Your Perfect Stay in Connecticut
Find available hotels and vacation homes instantly. No fees, best rates guaranteed!
Check Availability Now