Woonsocket’s Landmark Medical Center is about to turn the page on a long and challenging chapter in its history. The struggling hospital has received regulatory approval to be acquired by a for-profit hospital chain called Prime Healthcare. That means an end to five years of uncertainty for employees, patients, and the community.
Today is the deadline for state regulators to decide whether an out-of-state hospital chain can acquire Woonsocket's Landmark Medical Center. The decision will mark the end of five years of uncertainty for the struggling hospital.
Landmark has been in receivership, a kind of bankruptcy, since 2008. It's flirted with several different potential buyers who got cold feet for one reason or another and pulled out. It's battled the state's largest insurer, Blue Cross and Blue Shield of Rhode Island, for higher payments.
Rhode Island regulators have deemed Prime Healthcare’s application to buy Woonsocket’s Landmark Medical Center complete.
Now the Attorney General and Department of Health can begin their official review of California-based Prime Healthcare’s bid to buy the troubled community hospital. That review begins July 1st and ends October 28th under Rhode Island’s Hospital Conversion Act.
Been wondering what's happening with Landmark Medical Center? So has Woonsocket's mayor, Leo Fontaine. He wrote a letter to Governor Lincoln Chafee, pleading with him to weigh in on the process, use his influence to somehow resolve it. Problem is, regulators say that won't help.
Here are excerpts of the mayor's letter to the governor, a copy of which he apparently emailed to several newsrooms, but not to the primary regulators involved in approving or denying Prime Healthcare's application to buy to Landmark Medical Center:
CharterCARE, the umbrella organization for Our Lady of Fatima and Roger Williams hospitals, has announced its intent to partner with Prospect Medical Holdings, a for-profit health care firm based in California. The deal is in its infancy. But it's the fourth proposed hospital merger/acquisition under Rhode Islands Hospital Conversions Act. And it's yet another sign of the shaky financial ground on which many of the state's hospitals now find themselves.
Westerly Hospital is another step closer to being acquired by New London-based L&M Hospital.
Rhode Island’s department of health and the attorney general’s office say they’ve received a complete application from L&M. The state agencies now have 90 days to review it. If they accept L&M’s offer, Westerly could be the first hospital acquired under the state’s new Hospital Conversions Act.