When Connecticut lawmakers pushed the UConn Health hospital acquisition bill through the November special session — without a public hearing — it was clear transparency was not the priority.
Now UConn Health, the state-run hospital system preparing to spend roughly half a billion taxpayer dollars acquiring Waterbury Hospital, has taken that secrecy a step further. Under the legislation rushed through the November special session — which authorizes UConn Health not just to purchase Waterbury Hospital but potentially to acquire additional struggling hospitals in the future — the financial stakes extend far beyond a single transaction. Yet in its Certificate of Need filing, UConn has asked state regulators to seal its cost and market impact review (CMIR) — the central analysis used to evaluate how the deal would affect prices, competition, access, and the financial risks taxpayers may ultimately assume.
The legislature avoided public scrutiny when passing the legislation. UConn Health is now avoiding scrutiny on the financials themselves.
According to its filing, UConn Health plans to invest $195 million in Waterbury Hospital over the next two years, including $13 million paid directly to Prospect Medical Holdings, the California based, bankrupt for-profit chain that allowed the hospital to deteriorate. But the upfront investment represents only a small portion of the true cost. The bulk will come from $390 million in UConn 2000 bonds, state-backed debt. Once interest is included, taxpayers will ultimately shoulder roughly $500 million.
The financial risk is not theoretical. It falls squarely on Connecticut residents.
Hellbound and Down 