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BOSTON (AP) — Boston Children's Hospital has made a deal to acquire a network of out-of-state doctors to expand and reach more patients beyond the city.
The nonprofit hospital plans to complete the acquisition of Children's and Women's Physicians of Westchester LLP, a for-profit group of 276 doctors, by the summer, The Boston Globe (http://bit.ly/1F04A2i ) reported. The terms have not been disclosed.
The Westchester practice has 57 locations in New York, New Jersey and Connecticut.
The hospital, which has about 1,300 physicians, already treats patients from other states, but this will be the hospital's first acquisition outside Massachusetts.
"Children's wants to be more and more a regional hospital," said Ruselle W. Robinson, a health care lawyer at the Boston firm Posternak Blankstein & Lund LLP.
The deal is expected to add thousands of patients to the hospital's network, advance its out-of-state expansion strategy and provide a new source of revenue and more referrals.
Hospital executives said the deal could improve care for other patients in the tristate area by giving them better access to pediatric specialists.
Dr. Kevin Churchwell, the CEO of Children's Hospital, said the idea is to create a pediatric healthcare network across the Northeast in which doctors can coordinate care electronically.
The hospital brought in $113 million on operations in the last fiscal year, a 28 percent increase from the previous year. The surge in profits was driven by an influx of patients from outside the state, Asia, Latin America and the Middle East.
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Information from: The Boston Globe, http://www.bostonglobe.com
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