Hartford Business Journal

4 Hartford Business Journal • April 2, 2018 • www.HartfordBusiness.com Briefs Trinity Health new pres., CEO Eadie begins Trinity Health of New England said its new president and CEO has officially taken over the recently formed regional system, which counts St. Francis Hospital and Medical Center as its flagship. Dr. Reginald J. Eadie, named to the position in January, succeeds Roger Spoelman who served in an interim role after former President and CEO Christopher Dadlez resigned at the end of 2017. With more than 20 years of healthcare experience, Eadie most recently served as chief operating officer at Detroit Medical Center, a seven-hospital, regional system in Michigan. He previously led several of the system's hospitals as CEO. Hartford HealthCare to acquire St. Vincent's in Bridgeport Hartford HealthCare said it has reached an agreement to acquire St. Vincent's Medical Center in Bridgeport, a deal that would add its first Fairfield County hospital. HHC said it has signed a nonbinding letter of intent with Missouri-based Ascension, which counts St. Vincent's as its sole Connecticut hospital out of 153 across the country. Terms of the deal were not disclosed. St. Vincent's Medical Center and its subsidiaries reported a loss from operations of $22.9 million in the fiscal year ended Sept. 30, 2016, according to data filed with the state Department of Public Health. Within that, the hospital reported an operating loss of $6.1 million. St. Vincent's has more than 3,200 employees and includes a 473-bed community teaching hospital, 76-bed inpatient psychiatric facility in Westport, large multispecialty provider group, and St. Vincent's Special Needs Services. If the deal receives regulatory approvals, Hartford HealthCare said it would continue to operate St. Vincent's in compliance with Catholic traditions. City cites ex-downtown YMCA site for blight The high-rise former downtown home to the Hartford YMCA has landed in the crosshairs of the city's blight enforcers. According to city records, Hartford's anti-blight enforcement office since last summer has issued several notices to Massachusetts landlord Northland Investment Corp. about the vacant building's deteriorating condition amid signs that trespassers and some squatters regularly enter and exit the 11-story tower at 160 Jewell St., at the corner of Jewell, Pearl and Ann Uccello streets. In the latest notice of violation in December, the city notified Northland via certified mail that blight inspectors' Nov. 3 inspection of the property found nine violations of the city's anti-blight ordinance. Those included unkempt walkways and sidewalks, broken windows and doors, and signs of rodent infestation, the notice said. It was unclear whether the city has imposed any fines on Northland. But the city's notice states that anti-blight violations are subject to a $100 fine per day per violation until corrected. In December, city records show, Northland filed with the city for a permit for plumbing and other unspecified repairs to the building overlooking The Sailors' and Soldiers' Memorial Arch and Bushnell Park. Week in Review TOP STORY Insurers, Bronin to discuss $50M aid package amid Hartford bailout O fficials from three insurers and Mayor Luke Bronin said they will meet in the coming weeks to review the state's bailout of the city before the companies make good on their pledge to invest $50 million in Hartford over five years. The Hartford City Council on March 26 inked a contract assistance agreement, which sets the course for the state to pay off the city's $550 million debt over two decades, with annual debt payments of about $35 million. With the agreement in hand, city leaders will look to begin collecting on the five- year, $50 million aid package promised by The Hartford, Travelers Cos., and Aetna. The insurers pledged the financial support in 2017 if Hartford adopted a stable and sustainable balanced budget. The insurers said they plan to review the bailout agreement with Bronin. The Hartford mayor, who confirmed the upcoming talks, said he will outline the "very significant progress" the city has made over the last year. The Hartford's Chairman and CEO Chris Swift in January reiterated the insurers' $50 million pledge to the city if its finances improved. Meantime, some GOP and Democratic state lawmakers have raised concerns about the size of Hartford's bailout, saying they would try to reduce future grants to the city to offset some of the debt assistance. It's not clear how that would impact Hartford's future budgets. BY THE NUMBERS $550M The amount of Hartford's general obligation debt the state has agreed to pay off over the next 20 years. 19 The number of votes cast in the state Senate that blocked the appointment of Andrew McDonald as chief justice of the Connecticut Supreme Court. $27.7B The total economic impact of the state's hospitals in 2016, up from $1.5 billion a year earlier, according to the Connecticut Hospital Association. $420M The amount East Hartford jet engine maker Pratt & Whitney is being award- ed for a defense contract that will pro- duce 137 single-engine tactical fighter jets for several military branches. TOP 5 MOST READ On HartfordBusiness.com • 1. City cites ex-downtown YMCA for blight • 2. Pratt & Whitney nabs $240M defense contract • 3. Trinity Health new pres., CEO Eadie begins Monday • 4. Hartford councilors ink $550M bailout offer from state • 5. Hartford insurers, Bronin to discuss $50M aid package STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/ subscribe Weekly e-newsletters: CT Health Care Weekly www.HartfordBusiness.com/ subscribe A fence is up around Northland's 160 Jewell St. property. The Hartford Chairman and CEO Chris Swift in January reiterated his company's financial support for the city of Hartford, pending a balanced budget. Dr. Reginald J. Eadie, President and CEO, Trinity Health of New England PHOTO | CONTRIBUTED HBJ PHOTO | GREGORY SEAY

• Cover