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UM medical system entering talks to buy St. Joseph

Wednesday - 3/28/2012, 12:09pm  ET

TOWSON, Md. - The University of Maryland Medical System is entering talks to buy St. Joseph Medical Center.

The hospital's board announced Friday that it is entering an exclusive agreement with the system after negotiations with Catholic Health Initiatives, the Denver-based owner of St. Joseph.

LifeBridge Health, which owns Sinai and Northwest hospitals, and St. Agnes Hospital were also finalists to acquire the 263-bed hospital in Towson.

The financially troubled hospital sought bidders while facing complaints about hundreds of unnecessary medical procedures. The hospital notified about 600 patients in 2009 that stents had been placed in their arteries that they might not have needed.

The hospital's admissions and revenue fell amid the controversy and it faces millions of dollars in lawsuits from former patients. It recently laid off 17 people.

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