Ascension provides Caritas Christi $100m

Caritas Christi, the Archdiocese of Boston's struggling health care system, is getting a $100 million boost, in the form of low-interest bonds, from Ascension Health. The Globe's Todd Wallack reports:

Caritas Christi's chief executive, Ralph de la Torre (left), said he was optimistic Ascension could help the chain continue to improve its operations, but said he hasn't discussed a possible merger. "Does it help the two systems get closer? Absolutely," de la Torre said. "Are they interested in us for the future? That I can't answer. All I can tell you is that there has been nothing in writing or even a handshake, wink, nod, or discussion about that." Ascension, the nation's largest Catholic healthcare system, came close to acquiring Caritas Christi from the archdiocese last year. The tentative deal collapsed in June 2007, after Ascension found Caritas Christi was in worse financial condition than expected because of underfunded pension liabilities and a dwindling number of patients. Since then, however, Caritas Christi has taken steps to improve its profitability, including streamlining management and consolidating some offices.