Hospital Transactions & Valuation Issues
Sponsored by VMG Health | gregk@vmghealth.com / osullivan@vmghealth.com | 214.369.4888
Caritas Christi Closer to Acquiring Rhode Island's Landmark Medical Center
August 30, 2010
Boston-based Caritas Christi Healthcare has asked a Rhode Island judge to approve its acquisition of 214-bed Landmark Medical Center in Woonsocket, R.I., for an undisclosed sum, according to a Boston Globe report.
Caritas is currently awaiting approval to be acquired by private equity firm Cerberus Capital Management. If both deals are approved, the Landmark acquisition would be one of the first by Caritas after it comes under Cerberus control, according to the report.
Caritas was exploring an acquisition with Landmark before it agreed to be acquired by Cerberus.
Struggling Landmark has been on court supervision for two years, according to the report.
Read the Boston Globe report on Landmark Medical Center.
Read more coverage on Landmark Medical Center:
- Rhode Island's Landmark Medical Center Seeks $20M State Bailout
- Caritas Christi Looking to Acquire Rhode Island Medical Center
© Copyright ASC COMMUNICATIONS 2011. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.