A financing gap delaying the sale of two cash-strapped Rhode Island hospitals is expected to be resolved under a decision announced Thursday by Attorney General Peter Neronha. More than two years have passed since the Atlanta-based Centurion Foundation submitted an application to buy CharterCARE Health Partners, composed mostly of Roger Williams Medical Center in Providence […]
Centurion Foundation
Posted inBusiness, Local, Politics
Bond sale to finance hospital deal in Rhode Island still ongoing
The Centurion Foundation, the Georgia nonprofit attempting to acquire two cash-strapped Rhode Island hospitals, is doubling down on its attempt to sell the bonds needed to finance the deal, although the outlook remains uncertain. Initial plans called for closing the $160 million bond sale in late May. Because not enough bonds have been sold — […]
Posted inLocal, Politics, TGIF
TGIF: Ian Donnis’ Rhode Island politics roundup for May 2, 2025
It’s go(al) time for the Pawtucket debut of Rhode Island FC. You can follow me through the week on Bluesky, threads and X. Here we go. *** Want to get my column in your inbox every Friday? Just sign up right here. *** 1. STORY OF THE WEEK: After Val Lawson won election Tuesday as […]
Posted inBusiness, Health, Local
Reliance on debt sparks concern on deal for two RI safety-net hospitals
The future of two cash-strapped hospitals — Roger Williams Medical Center in Providence and Our Lady of Fatima in North Providence — has become increasingly tenuous over the last four years. Things got even more uncertain when the hospitals’ California-based owner, Prospect Medical Holdings, filed for bankruptcy in January. Rhode Island Attorney General Peter Neronha […]
Posted inBusiness, Health, Local
Bankruptcy court hearing may clarify deal to sell RI hospitals
A Feb. 12 hearing in U.S. Bankruptcy Court in Texas could determine whether the Centurion Foundation can proceed with its plan to buy Roger Williams Medical Center in Providence and Our Lady of Fatima Hospital in North Providence. The hospitals are among the CharterCARE Health Partners assets owed by California-based Prospect Medical Holdings, which filed […]
Posted inHealth, Local
Regulators approve nonprofit’s purchase of two R.I. hospitals from private equity firm
After a yearslong review process, state health regulators have granted final approval to the proposed sale of Roger Williams Medical Center and Our Lady of Fatima Hospital, opening the door for a nonprofit to take over ownership of the struggling Rhode Island hospitals from a for-profit private equity firm. Otis Brown, a spokesman for the […]
Posted inLocal, Politics, TGIF
TGIF: Ian Donnis’ Rhode Island politics roundup for July 12, 2024
If your bingo card had George Clooney delivering a sharp jab to POTUS via op-ed, raise your hand. You can follow me through the week on threads and what we used to call the twitters. Here we go. *** Want to get my column in your inbox every Friday? Just sign up right here. *** […]
Posted inHealth, Local, Politics
State regulators approve, with conditions, sale of two Rhode Island hospitals
Rhode Island state regulators on Thursday approved, with conditions, the sale of two cash-strapped safety-net hospitals to an Atlanta-based nonprofit with no experience in managing hospitals. The Rhode Island Department of Health and Attorney General Peter Neronha signed off on the possible acquisition of the hospitals’ parent, CharterCARE Health Partners, by the Centurion Foundation. CharterCARE […]
Posted inHealth, Local, Politics
Offer to turn two Rhode Island hospitals into nonprofits poses more uncertainty
Jo-Ellen Paterno lives with her husband, Paul, and three children in Warwick. “I’m a school teacher by trade,” Paterno said during an interview in her home. “I’ve been a physical education teacher for about 24 years.” Two years ago, during the summer of 2022, Parterno added a new title: cancer patient. After considering her options […]
Posted inHealth, Local
The Centurion Foundation’s purchase of Roger Williams and Fatima hospitals would rely on bond funding
Unionized employees turned out in force at a public hearing Tuesday to oppose the proposed sale of two Rhode Island community hospitals by Prospect Medical Holdings to an Atlanta-based nonprofit. Nurses, lab technicians, social workers and other staff of Roger Williams Medical Center in Providence and Our Lady of Fatima Hospital in North Providence filled […]
