Steward to acquire Lowell, Mass., hospital

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Saints Medical Center of Lowell, Mass., and Steward Health Care System have signed a letter of intent for Saints to become part of Steward, a regional accountable care organization (ACO) and community hospital network based in Boston.

The parties will continue due diligence toward the signing of an asset purchase agreement, according to a press release from Saints Medical Center.

Saints Board of Trustees selected Steward after analysis of several partnership opportunities, the release stated.

Saints Medical Center, a 157-bed, full-service acute-care community hospital, serves 315,000 residents in 25 towns in Greater Lowell and the Merrimack Valley, and employs nearly 400 physicians. Saints offers community-based care at several ambulatory sites and has clinical affiliations with several Boston academic medical centers.