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Steward to invest $4.5M in physical plant in 6 months

PUBLISHED: | UPDATED:

AYER — It’s been one year since the initial announcement that Steward Health Care System would acquire Nashoba Valley Medical Center in Ayer.

On May 2, 2011, Steward purchased the hospital along with Merrimack Valley Hospital from Essent Healthcare for a reported $21 million plus a commitment to invest $19 million in making capital improvements at these two hospitals. Essent had owned NVMC since 2001, and stated its reason for selling was “related to the uniquely challenging healthcare environment in Massachusetts.”

Now going on nine months under Steward’s helm, NVMC is benefitting from the acquisition on several levels. According to Steve Roach, NVMC CEO, patients are enjoying access to a larger New England-based system including more services — for example, access to neurological robot surgery at St. Elizabeth’s in Boston; a much broader base of referral management to see primary care physicians and specialists; and access to the latest clinical technology including diagnostic testing. As a result of the acquisition, Steward will provide capital for ongoing clinical and infrastructure projects.

“We will be making some ongoing physical improvements to the hospital that will benefit both patients and employees,” said Roach. “In fact, we will be investing $4.5 million in the physical plant within the next 180 days to make it a more soft and caring environment for both our patients and employees.”

Roach said that NVMC’s entire medical staff prior to the transition is still in place as well as a few new doctors and primary care specialists who have been hired. In addition, wait times to see physicians have been decreased significantly, and in the emergency room, the wait time is less than 30 minutes.

Another benefit that Steward provides, he said, is greater operating efficiencies. Access to a larger purchasing group allows NVMC to use money to reinvest in the hospital and patient care and recruit additional physicians to the network.

Additionally, the two medical office buildings on the property that are currently for sale will ultimately generate more capital to invest in the hospital. The result of the sale, however, will be invisible to patients, and the doctors’ leases will stay in place.

“NVMC is a high-quality hospital with a talented medical staff that is an integral part of the local community,” said Chris Murphy, spokesman, Steward Healthcare. “That is the type of hospital that we think we can bring value to with the benefits of joining a large, well-capitalized local system of hospitals.”

Steward owns 10 hospitals in Eastern Massachusetts and plans to acquire a landmark medical center in Rhode Island in 2012.

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Steward to invest $4.5M in physical plant in 6 months

Steward to invest $4.5M in physical plant in 6 months
Steward to invest $4.5M in physical plant in 6 months
PUBLISHED: | UPDATED:

AYER — It’s been one year since the initial announcement that Steward Health Care System would acquire Nashoba Valley Medical Center in Ayer.

On May 2, 2011, Steward purchased the hospital along with Merrimack Valley Hospital from Essent Healthcare for a reported $21 million plus a commitment to invest $19 million in making capital improvements at these two hospitals. Essent had owned NVMC since 2001, and stated its reason for selling was “related to the uniquely challenging healthcare environment in Massachusetts.”

Now going on nine months under Steward’s helm, NVMC is benefitting from the acquisition on several levels. According to Steve Roach, NVMC CEO, patients are enjoying access to a larger New England-based system including more services — for example, access to neurological robot surgery at St. Elizabeth’s in Boston; a much broader base of referral management to see primary care physicians and specialists; and access to the latest clinical technology including diagnostic testing. As a result of the acquisition, Steward will provide capital for ongoing clinical and infrastructure projects.

“We will be making some ongoing physical improvements to the hospital that will benefit both patients and employees,” said Roach. “In fact, we will be investing $4.5 million in the physical plant within the next 180 days to make it a more soft and caring environment for both our patients and employees.”

Roach said that NVMC’s entire medical staff prior to the transition is still in place as well as a few new doctors and primary care specialists who have been hired. In addition, wait times to see physicians have been decreased significantly, and in the emergency room, the wait time is less than 30 minutes.

Another benefit that Steward provides, he said, is greater operating efficiencies. Access to a larger purchasing group allows NVMC to use money to reinvest in the hospital and patient care and recruit additional physicians to the network.

Additionally, the two medical office buildings on the property that are currently for sale will ultimately generate more capital to invest in the hospital. The result of the sale, however, will be invisible to patients, and the doctors’ leases will stay in place.

“NVMC is a high-quality hospital with a talented medical staff that is an integral part of the local community,” said Chris Murphy, spokesman, Steward Healthcare. “That is the type of hospital that we think we can bring value to with the benefits of joining a large, well-capitalized local system of hospitals.”

Steward owns 10 hospitals in Eastern Massachusetts and plans to acquire a landmark medical center in Rhode Island in 2012.

Join the Conversation

We invite you to use our commenting platform to engage in insightful conversations about issues in our community. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable to us, and to disclose any information necessary to satisfy the law, regulation, or government request. We might permanently block any user who abuses these conditions.

Steward to invest $4.5m in physical plant in 6 months

Steward to invest $4.5m in physical plant in 6 months
Steward to invest $4.5m in physical plant in 6 months
PUBLISHED: | UPDATED:

AYER — It’s been one year since the initial announcement that Steward Health Care System would acquire Nashoba Valley Medical Center in Ayer.

On May 2, 2011, Steward purchased the hospital along with Merrimack Valley Hospital from Essent Healthcare for a reported $21 million plus a commitment to invest $19 million in making capital improvements at these two hospitals. Essent had owned NVMC since 2001, and stated its reason for selling was “related to the uniquely challenging healthcare environment in Massachusetts.”

Now going on nine months under Steward’s helm, NVMC is benefitting from the acquisition on several levels. According to Steve Roach, NVMC CEO, patients are enjoying access to a larger New England-based system including more services — for example, access to neurological robot surgery at St. Elizabeth’s in Boston; a much broader base of referral management to see primary care physicians and specialists; and access to the latest clinical technology including diagnostic testing. As a result of the acquisition, Steward will provide capital for ongoing clinical and infrastructure projects.

“We will be making some ongoing physical improvements to the hospital that will benefit both patients and employees,” said Roach. “In fact, we will be investing $4.5 million in the physical plant within the next 180 days to make it a more soft and caring environment for both our patients and employees.”

Roach said that NVMC’s entire medical staff prior to the transition is still in place as well as a few new doctors and primary care specialists who have been hired. In addition, wait times to see physicians have been decreased significantly, and in the emergency room, the wait time is less than 30 minutes.

Another benefit that Steward provides, he said, is greater operating efficiencies. Access to a larger purchasing group allows NVMC to use money to reinvest in the hospital and patient care and recruit additional physicians to the network.

Additionally, the two medical office buildings on the property that are currently for sale will ultimately generate more capital to invest in the hospital. The result of the sale, however, will be invisible to patients, and the doctors’ leases will stay in place.

“NVMC is a high-quality hospital with a talented medical staff that is an integral part of the local community,” said Chris Murphy, spokesman, Steward Healthcare. “That is the type of hospital that we think we can bring value to with the benefits of joining a large, well-capitalized local system of hospitals.”

Steward owns 10 hospitals in Eastern Massachusetts and plans to acquire a landmark medical center in Rhode Island in 2012.

Join the Conversation

We invite you to use our commenting platform to engage in insightful conversations about issues in our community. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable to us, and to disclose any information necessary to satisfy the law, regulation, or government request. We might permanently block any user who abuses these conditions.