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Mon May 16, 2011
Landmark bidder drops out
By CATHERINE WELCH
PROVIDENCE,RI – Transition Healthcare Company has pulled its bid to purchase Landmark Medical Center. Transition was one of three bidders looking to take over the troubled Woonsocket medical center.
Friday Judge Michael Silverstein allowed Landmark to open up talks in case he fails to reach a decision by the end of May.
In a letter to Landmark, Transition said it didn't think it was fair or appropriate to open up talks. Landmark spokesman Bill Fischer says the current bidding process is closed. But before the announcement, Transition had a list of outstanding issues.
"They were a bidder with certainly a long to-do list and whether that could have been accomplished by May 27th, who knows," says Fischer.
Transition's Tom Reardon says those new talks could influence the judge's decision.
"I'm very disappointed because I really, really thought that we could make a difference," says Reardon. "And so we regret the decision to pull out and regret that's where we are at this point."
With Transition out, Prime Health Care and Regional Care Hospital partners are the two left vying for Landmark.
Read the letter
Read Transition Healthcare's letter to Landmark here.
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