Mass. hospital systems announce deal
BURLINGTON, Mass. -- Officials with the Lahey Clinic and Northeast Health System, the operator of three North Shore hospitals, say they have entered into an affiliation agreement.
The deal announced Tuesday will create a new organization from the two nonprofits called the Lahey Health System.
Officials with both organizations say the deal will give patients better access to top-notch medical care.
Northeast has been looking for a buyer for several months, and has considered deals with two for-profit hospital systems as well as with Beth Israel Deaconess Medical Center in Boston.
Beverly-based Northeast operates Beverly Hospital, Addison Gilbert Hospital in Gloucester, BayRidge psychiatric and substance abuse hospital in Lynn and several other facilities.
Lahey is based in Burlington and has satellite medical centers in Peabody and Lexington.
The deal must be cleared by state regulators.
(Copyright 2011 by The Associated Press. All Rights Reserved.)