Rhode Island regulators have given their final approval for the sale of Westerly Hospital to the New London-based Lawrence & Memorial Hospital.
The head of Rhode Island’s Department of Health and the state's Attorney General have signed off on the deal to sell Westerly to L&M. Now, the deal is expected to close June first. Westerly Hospital has been in receivership since 2011 and under the leadership of a special master. L&M spokesman Michael O’Farrell says the special master will stay on through the closing date.
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.