Rhode Island Gov. Lincoln Chafee has said he will not veto a bill that will modify the state's Hospital Conversions Act by striking the requirement for a three-year pause between for-profit companies' acquisitions of hospitals, according to a Woonsocket Call report.
The state House of Representatives and Senate passed the bill this week, according to a Providence Business News report, sending it to the governor's desk for his signature. Boston-based, for-profit Steward Health Care System has sought the change to the current state law since it is interested in acquiring community hospitals in the Rhode Island market. Specifically, the change in the law was added as a condition to Steward's asset purchase agreement for Landmark Medical Center in Woonsocket, R.I.
Woonsocket Mayor Leo Fontaine said he met with the governor yesterday and told him a veto would hurt the struggling Landmark Medical Center, a community hospital.
"I am very pleased that the governor will not veto this legislation that is so critical to saving the hospital," Mayor Fontaine said, according to the report. "We all understand that the closure of Landmark would have been devastating to our community in many ways."
Moody's: Rhode Island Bill on Hospital Acquisitions Could Help Community Hospitals
R.I. Senate Approves Bill to Eliminate 3-Year Wait Between Hospital Purchases
The state House of Representatives and Senate passed the bill this week, according to a Providence Business News report, sending it to the governor's desk for his signature. Boston-based, for-profit Steward Health Care System has sought the change to the current state law since it is interested in acquiring community hospitals in the Rhode Island market. Specifically, the change in the law was added as a condition to Steward's asset purchase agreement for Landmark Medical Center in Woonsocket, R.I.
Woonsocket Mayor Leo Fontaine said he met with the governor yesterday and told him a veto would hurt the struggling Landmark Medical Center, a community hospital.
"I am very pleased that the governor will not veto this legislation that is so critical to saving the hospital," Mayor Fontaine said, according to the report. "We all understand that the closure of Landmark would have been devastating to our community in many ways."
More Articles on the Rhode Island Hospital Transaction Bill:
R.I. House Passes Bill to Ax Time Restraints on For-Profit Hospital AcquisitionsMoody's: Rhode Island Bill on Hospital Acquisitions Could Help Community Hospitals
R.I. Senate Approves Bill to Eliminate 3-Year Wait Between Hospital Purchases