Rhode Island’s Attorney General has approved the affiliation of the nonprofit CharterCare Health system and the California-based for-profit Prospect Medical Holdings. CharterCare operates Roger Williams, St. Joseph’s, and Our Lady of Fatima hospitals.
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.