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 […]
Roger Williams Medical Center
Posted inHealth, Local
Judge says sale of RI hospitals can move forward
Roger Williams Medical Center in Providence and Our Lady of Fatima Hospital in North Providence have been losing money for years. According to Rhode Island Attorney General Peter Neronha, that’s because the California hedge fund that owns them has prioritized investor returns over patient care. California-based Prospect Medical is now trying to sell these two […]
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 […]
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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 inHealth, Local, Politics
State regulators approve, with conditions, sale of two Rhode Island hospitalsÂ
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 […]
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Judge orders owner of two Rhode Island hospitals to pay $17 million
Stern’s decision to grant a preliminary injunction requested by Attorney General Peter Neronha follows a lawsuit filed by Neronha against Prospect late last year. At the time, Neronha alleged Prospect had violated a number of terms from a 2021 agreement with his office that was meant to ensure, at least through 2026, the operation of […]
