Goulston & Storrs, an Am Law 200 firm, represented Lawrence General Hospital and a newly formed not-for-profit in the acquisition of the Holy Family Hospital assets in Methuen and Haverhill, Massachusetts, from Steward Health Care System. The final transaction, approved by the Bankruptcy Court after multiple hearings, officially closed on October 1, 2024. The transaction represents a significant milestone in creating a true regional health care system in the Merrimack Valley.
Through this acquisition, Lawrence General Hospital will take over both the operations and the real estate assets of the two campuses, with more than 1,300 employees transitioning to the new ownership structure. The purchase price for both facilities was $28 million.
The fully integrated Goulston & Storrs deal team was led by director Douglas Rosner, head of the firm’s nationally recognized bankruptcy and restructuring group, and included additional individuals from the firm’s bankruptcy and restructuring group plus its corporate, employment, real estate, and tax groups.
About Lawrence General Hospital
Lawrence General Hospital is a private, non-profit community hospital providing the Merrimack Valley and southern New Hampshire with patient-centered, compassionate and quality health care for the whole family. For nearly 150 years, the dedicated doctors, nurses, and staff of Lawrence General have been committed to improving the health of the people and communities it serves. To learn more about Lawrence General Hospital, click here.
