Connecticut approves Nuvance merger

The State of Connecticut on Tuesday (April 8) approved an agreement transforming the Putnam Hospital Center in Carmel, Vassar Brothers Medical Center in Poughkeepsie and five other hospitals owned by Nuvance Health into affiliates of Northwell Health, which promised to invest at least $1 billion. 

Despite $1 billion in annual revenues, Nuvance lost $220 million during the two most recent fiscal years before its May 2024 application to merge with Northwell. It was projected to lose nearly $150 million in 2024. Putnam Hospital lost $32.5 million for the fiscal year ending Sept. 30, 2023, and Vassar Brothers, $40 million.

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