A Catholic group that opposes the sale of Caritas Christi Health Care to Cerberus Capital Management, a capital equity firm, was so riled by the possibility that Caritas might go secular--performing abortions and other procedures prohibited by Catholic teachings--that they've appealed to a higher authority and written to Pope Benedict XVI, calling on him to end all negotiations with Cerberus, the Boston Globe reports.
A stewardship agreement negotiated with the Archdiocese of Boston would let Cerberus Capital Management cut the six Boston hospitals' religious ties, if they became "materially burdensome" and if Cerberus donates $25 million to a charity of the archdiocese's choosing. The Coalition to Save Catholic Health Care, the group behind the letter to the pope, compared the agreement to the bribe that, according to the Gospel of John, Judas Iscariot took in exchange for betraying Jesus. "The $25 million can only be likened to 25 pieces of silver," they wrote.
Cerberus and Caritas reps say they plan to maintain the Catholic identity of the healthcare chain in Boston.
Before the $830 million deal can proceed, the Vatican, Cardinal Sean P. O'Malley, the Massachusetts Department of Public Health and the Supreme Judicial Court must approve it. If finalized, the deal would be the largest switch of hospital assets from nonprofit to for-profit status in Massachusetts history.
To learn more:
- read the Boston Globe story
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