RIPR News
11:16 am
Wed June 8, 2011

Landmark and Steward sign purchase agreement

Providence, RI – It's official. Steward Health Care System is committed to buying Landmark Medical Center in Woonsocket.

The parent company of the Caritas Christi hospital chain in Massachusetts has signed a purchase agreement with Landmark. Steward has committed to spending more than 70 million dollars on the hospital, including nearly 50 million dollars in improving the building and replacing out of date equipment.

But the sale isn't final yet. Steward and Landmark must apply for approval from the Attorney General's Office and the Director of the Department of Health. That regulatory process can last anywhere from months to years.

Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. news@wrni.org.