Wed October 17, 2012
Landmark Medical’s suitor buying up hospitals nationwide
Prime Healthcare Services, the latest suitor to try to buy Woonsocket’s struggling Landmark Medical Center, is “on a buying spree,” says Modern Healthcare magazine. Prime has closed deals on six financially troubled hospitals and announced its intent to buy Landmark in the past year. The story mention’s Prime’s public relations problems, including a tussle with the Service Employees International Union and an investigation over its billing practices in California, where the firm is based.
Does a firm hungry for troubled hospitals and engaged in some legal battles spell trouble for Landmark? Not necessarily, according to this particular article.
But it will be interesting to watch how Lower Bucks Hospital in Bristol, PA and St. Mary’s Regional Medical Center in Reno, NV fare. They’re the latest acquisitions on Prime’s growing list of conquests. For instance, will those hospitals regain some financial footing? Will patient outcomes improve? Will keeping those hospitals open not only help their communities’ economic outlook but also contribute to the quality of health care in the region? All remain to be seen.