While it may seem like selling a business or the dissolution of corporation and other entity doesn’t have a significant effect on the lives of the average citizens, two Massachusetts hospitals are proving differently.
Massachusetts General Hospital bought Cooley Dickinson Hospital in July of 2013, and it looks like local residents will start to see some of the perks of the acquisition once a cancer treatment center opens at Cooley Dickinson. The new treatment center will give patients access to opportunities like genetic screening, clinical trials and the latest cancer therapies.
Cooley Dickinson’s chief medical officer said that Massachusetts General’s reputation as a leading research center was one reason for the acquisition and that the hospital was looking forward to being able to bring an increased level of care to local cancer patients. The two hospitals have been working towards cancer care since 2009, and the cancer center is expected to be finished in 2015. Patients, however, will start having access to the expanded treatment options as early as this summer. The project is estimated to cost $5 million, and Cooley Dickinson has raised about half of that so far, according to a press release.
Even when there seems to be all positive outcomes as a result of a selling a business, there can be corporate financial issues or other particulars that need to be hashed out in legal agreements. Having a thorough understanding of the processes involved can ensure that businesses on both sides of the sale are prepared for as seamless of a transition as possible.
Source: gazettenet.com, “Mass General Cancer Center to open at Cooley Dickinson Hospital in Northampton” Rebecca Everett, Jan. 31, 2014