NEW HAVEN — The Yale-New Haven Health System will absorb Lawrence and Memorial (L+M) Healthcare.
The companies announced the deal Wednesday, which will have to be approved by both state and federal regulators.
“YNHHS and L+M have a longstanding relationship and share strong clinical partnerships that have truly benefitted the patients we both serve,” said Marna Borgstrom, president and CEO of Yale New Haven Health. “We are very enthusiastic about an affiliation with L+M because we firmly believe that it will help both health systems continue to succeed in this rapidly evolving environment.”
Under the deal, Yale will invest $300 million in eastern Connecticut and Rhode Island. Funding will be used for clinical investments in areas such as primary care, maternity services, orthopedics, neurosurgery, maternal-fetal medicine, vascular, neurology/stroke, endocrine medicine and physiatry.
L+M Healthcare is the parent organization of Lawrence and Memorial Hospital, Westerly Hospital, L+M Medical Group and the Visiting Nurse Association of Southeastern Connecticut.
This is the first hospital to be added to the Yale system since 1998.