OrthoConnecticut can proceed with a proposed restructuring without needing to obtain approval from the state’s Office of Health Strategy, according to a decision issued last week.
OrthoCT, which has nine offices across the state, requested a determination by OHS that a Certificate of Need would not be required for its planned restructuring, reports the Hartford Business Journal.
OrthoCT is being converted from a professional corporation to a professional limited liability company, and non-clinical assets will be transferred to a management services organization, according to an affidavit signed by Dr. Michael Brand, co-president of OrthoCT.
The current shareholder physicians will maintain their controlling interests of OrthoCT, according to the filing.
On Sept. 20, OHS issued a determination that no CON is required because the ownership composition will not change due to the reorganization. Read more.
