Jun. 14—Exeter Hospital and its affiliates have agreed to join Massachusetts-based Beth Israel Lahey Health — a proposed merger that will bring 10 or more mental health crisis beds to the hospital and continue on-site labor and delivery services there for at least 10 years.
The final judgment filed Wednesday in Merrimack Superior Court by the New Hampshire Attorney General's office — with court approval expected later this summer — calls for a $375 million capital commitment by BILH to Exeter Health Resources, which comprises Exeter Hospital, Core Physicians and Rockingham Visiting Nurses Association & Hospice.
Under the plan, with terms negotiated by the AG's Charitable Trust and Consumer Protection and Antitrust units, the state will receive $10 million over 10 years for projects that benefit health care consumers — including a research arm that will monitor, analyze and report on the state's health care market.
"EHR found a complimentary partner in BILH who was willing to make enforceable commitments to Exeter and the State," Attorney General John Formella stated in a news release. "As we welcome a large out-of-state system into New Hampshire, we must be mindful of the potential risks" to health care consumers, especially in terms of cost. The transaction first proposed had the potential to increase health care prices for New Hampshire residents who use the Exeter-area system. That risk is mitigated now by safeguards in the final terms. A third-party monitor will allow transparency to the public after the transaction is completed, according to the Attorney General's office.
"For this transaction, the parties were willing to make enforceable commitments to the State to ensure the parties' promised benefits are delivered to the community and there were sufficient protections for patients, physicians, and commercial health insurers," Michael Garrity, communications and legislative affairs director for the AG's office, stated by email.
"This marks a significant milestone in securing the sustainability of our healthcare system and its ability to thrive and meet evolving needs here in the Seacoast region," Kevin Callahan, president and CEO of Exeter Health Resources, Inc., said in a press release.
"Exeter and Beth Israel Lahey Health (BILH) share a commitment to deliver extraordinary care and improve the health of the communities we serve," Dr. Kevin Tabb, president and CEO of Massachusetts-based Beth Israel Lahey Health, said in the release from EHR.