Skip to main content

Judge OKs Landmark sale to Prime Health Care

October 9, 2012

PROVIDENCE — Faced with what was portrayed as a now-or-never choice, a Superior Court judge yesterday approved the sale of financially troubled Landmark Medical Center to Prime Health Care of California.
Judge Michael Silverstein’s decision clears the way for the fast-growing, for-profit chain to seek approval of the $60 million deal from state regulators under the Hospital Conversions Act.
Prime says it will take no longer than 45 days to submit a formal application to regulators and, if it’s approved, they’re ready to close on the sale by May 31, 2013.
“We are in a critical, critical stage with respect to the hospital,” said Landmark receivership master Jonathan Savage. “We were fortunate to get Prime back to the table.”
Prime, one of four hospital groups that bid for Landmarks assets in 2011, resurfaced after Boston-based Steward Health Care balked at purchasing the hospital after 16 months of acquisition proceedings.

Read more in our print edition.

WOONSOCKET — On an afternoon when Mount St. Charles pulled off an astonishingly spectacular triple...
WOONSOCKET — For Lincoln High junior Mason Palmieri, it doesn’t get much better these days. On...
PAWTUCKET — The right shoulder tenderness that grounded Matt Barnes for the majority of spring...
UXBRIDGE – A Worcester Superior Court judge Tuesday reduced bail for a 62-year-old registered sex offender and Uxbridge...
WOONSOCKET – State and local officials of the cash-strapped city took action on two fronts this week to bolster its...
WOONSOCKET – The latest plan to resurrect full-day kindergarten is more taxpayer-friendly than ever and no longer...

 

Premium Drupal Themes by Adaptivethemes