Skip to main content

Landmark suitor won't take no for an answer

November 5, 2012

WOONSOCKET — Struggling Landmark Medical Center publicly turned up its nose at a rival, eleventh-hour offer on the hospital last week, but apparently the spurned suitor isn’t getting the message.
Yesterday, Landmark Hospital Holdco LLC renewed its overtures, accusing special master Jonathan Savage of acting too hastily in rejecting the “economically superior offer.”
“These decisions, we believe, are negatively affecting the welfare of the Woonsocket, Rhode Island community, as well as the doctors and staff who faithfully serve it,” LHH said in a prepared statement. “Not only is our offer economically superior to other potential buyers, but more broadly, it is absolutely more favorable for patients, staff and the Rhode Island community.”
On the recommendation of Savage, Superior Court Judge Michael Silverstein last month granted exclusive bargaining rights for Landmark Medical Center and its sister facility, the Rehabilitation Hospital of Rhode Island, to Prime Healthcare Services of Ontario, California, a for-profit group that operates 20 hospitals in four states.
Prime signed an asset purchase agreement for Landmark with a cash value of about $60 million, including the retirement of debt, capital improvements and physician recruitment, but Landmark Hospital Holdco LLC claims its offer is worth about $4 million more.

Read more in our print edition.

PAWTUCKET — Will Middlebrooks can relate to Daniel Nava. A year ago, Middlebrooks scuffled so badly...
NORTH SMITHFIELD – Almost everything he witnessed on Monday morning/afternoon, North Smithfield...
The bib numbers in the 30,000s and high 20,000s look awfully strange. And the newly created fourth...
WOONSOCKET – UnitedHealthcare of New England is seeking the Department of Health’s approval to cut Landmark Medical...
LINCOLN -- Firefighters doused a blaze at 6 Winterberry Court Tuesday night after a freezer in the garage at the home...
WOONSOCKET – A man who was hospitalized after fighting with his roommate outside a Fairmount bar on Friday died at...

 

Premium Drupal Themes by Adaptivethemes