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More financial woes for Caritas Christi

Posted by Michael Paulson December 7, 2008 04:53 PM

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The Globe's Jeff Krasner reports that Caritas Christi, the hospital network of the Archdiocese of Boston, is having more financial problems. An excerpt:

"A $100 million financing deal between Caritas Christi Health Care and Ascension Health of St. Louis is on hold, leaving the hospital chain without needed capital at a time when the economy is slumping badly. At the same time, Caritas Christi, the state's second-largest hospital system, plans to lay off about 160 workers - 1.2 percent of it workforce of 13,000 - to cut expenses. The two moves make a financial turnaround for the Archdiocese of Boston's six-hospital chain more challenging for chief executive Ralph de la Torre, who took over in May."
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Michael Paulson covers religion for The Boston Globe. He shared in the Pulitzer Prize in 2003, won the Mike Berger, Templeton and Supple awards in 2008, and is a four-time winner of the Wilbur Award.
E-mail mpaulson@globe.com.

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