Public Meeting Seeks Community Input on Concord Hospital’s Acquisitions in the Lakes Region
In late 2020, after LRGHealthcare filed for bankruptcy, Concord Hospital acquired Lakes Region General Hospital in Laconia and Franklin Regional Hospital in Franklin. At the time, the transaction was presented as an opportunity to preserve healthcare services in the region while providing financial stability to a health system that had struggled for years with rising debt and shrinking healthcare delivery.
Nearly six years after the transfer of ownership, the Lakes Region continues to navigate many of the issues facing rural and community healthcare systems nationwide, including financial pressures, workforce shortages, and rising operating costs.
The New Hampshire Healthcare Consumer Protection Advisory Commission will hold a public community meeting on Wednesday, June 24, from 4:30 p.m. to 6:30 p.m. at Winnisquam Regional High School in Tilton, to hear the experiences of the local community with health care following Concord Hospital’s acquisition of LRGHealthcare.
The Road to Bankruptcy and a New Owner
Long before the COVID-19 pandemic, LRGHealthcare was already facing significant financial challenges, and signs of distress were visible. Franklin Regional Hospital closed its surgical facility in 2018, and both Franklin and Laconia eliminated labor and delivery services in 2019.
Around this time, the organization had accumulated more than $111 million in long-term debt,
to which were added declining reimbursement rates, shrinking service lines, and a changing health care landscape that increasingly favored outpatient care over inpatient hospital services. When the COVID-19 pandemic arrived, the system's financial condition worsened further, with reported losses approaching $1 million per month and hundreds of employees furloughed.
In October 2020, LRGHealthcare filed for Chapter 11 bankruptcy protection. Concord Hospital emerged as the only bidder in the bankruptcy proceedings, offering $30 million to acquire Lakes Region General Hospital, Franklin Regional Hospital, and associated outpatient facilities. The acquisition was approved by a federal bankruptcy judge in December 2020, and the facilities were subsequently renamed Concord Hospital-Laconia and Concord Hospital-Franklin.
Ongoing Challenges After the Acquisition
While the acquisition avoided a potential closure of the hospitals, the underlying economic pressures have not disappeared. Like many healthcare providers across New Hampshire, Concord Hospital has continued to face operational and financial challenges in the years following the acquisition.
Recent financial reports indicate that Concord Hospital-Laconia posted a negative 7.7% operating margin in 2024, and questions about access to primary care and provider availability emerged in the same year following the departure of three physicians from Concord Hospital's Laconia Clinic.
The changes affected an estimated 5,000 to 6,000 patients with disruptions in care, such as difficulty obtaining appointments, prescription delays, and increased pressure to travel further to access services. The issue is particularly significant because the Winnipesaukee Public Health Region already has one of the lowest primary-care-provider-to-population ratios in New Hampshire, and roughly half the primary care provider capacity available in the Concord area.
Workforce issues have also received attention. In 2025, nurses at Concord Hospital's Laconia and Franklin campuses voted to unionize, becoming the first nurses at a private hospital in New Hampshire to do so. Organizers cited concerns about staffing levels, patient care, and the need for a stronger voice in workplace decisions.
Assessing the Impact of Concord Hospital's Acquisition
The recent circumstances highlight broader concerns shared by many rural communities across New Hampshire: Can consolidation preserve local health care access, or does it gradually centralize services away from smaller communities?
As the Healthcare Consumer Protection Advisory Commission gathers public input, the June 24 meeting provides an opportunity for residents to assess whether the goals outlined during Concord Hospital's acquisition have been achieved and to identify areas where additional oversight or action may be needed.
The Commission is particularly interested in hearing about healthcare costs, access to services, quality of care, transparency, and primary care availability.
Public Meeting Information
Healthcare Consumer Protection Advisory Commission Public Meeting
Wednesday, June 24, 2026
4:30 p.m. – 6:30 p.m.
Winnisquam Regional High School – Cafetorium (side entrance), 433 West Main Street, Tilton, NH
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