Massachusetts public health officials have approved plans by Steward Health Care to close Quincy Medical Center.
The hospital will cease operation on Friday with Steward opening a satellite emergency room the following day on Saturday.
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The 124-year-old hospital stopped admitting patients last week and says it currently has no remaining inpatients.
Steward has said the hospital, with nearly 700 employees, is losing $20 million a year in the face of increased regional competition.
The company says it has agreed to keep the satellite emergency facility open in Quincy at least until Dec. 31, 2015. It will also offer diagnostic radiology, pharmacy and laboratory services.
Attorney General Martha Coakley's office, which had raised concerns about the closing, called the agreement to maintain emergency services an "important step."