The Eastern Connecticut Health Network, which owns Manchester Memorial and Rockville Hospitals, is to be taken over by a California-based for-profit company.
ECHN officials approved the deal with Prospect Medical Holdings Wednesday, although they must still wait for the okay from federal and state regulators. The financial terms of the deal haven’t been revealed.
Prospect has also expressed interest in buying Waterbury Hospital.
Marijuana Registrations Up
The number of registered medical marijuana patients in the state has grown quickly this summer. The Department of Consumer Protection, which administers the program, says the list of patients increased by 20 percent since the beginning of June. There are now 4,914 patients in Connecticut eligible to receive the drug.
Mohegans Cut Costs, Increase Profits
The Mohegan Tribal Gaming Authority says its seeing hopeful signs of recovery in its financial results. The owner of Mohegan Sun revealed third quarter profits that more than doubled from the same time last year.
Revenue was down just slightly, because of a drop in retail and entertainment sales, but lower operating costs and expenses contributed to the improvement in the bottom line. Diversification still seems to be the name of the game.
Executives said they’ll look to add more non-gaming activities at the Mohegan Sun site later this year.