The official overseeing receivership of The Westerly (R.I.) Hospital has said the hospital's sale process could begin as early as next month, according to a Westerly Sun report.
Special Master Mark Russo said the hospital is expected to remain in receivership for 12-18 months after entering receivership last month. Still, Mr. Russo hopes to begin a marketing process in February and expects a potential buyer or partner to emerge roughly three months after that.
Mr. Russo said the best-case scenario is if an existing healthcare network from the region acquired the hospital. Next to that, another likely scenario is that a for-profit company buys the facility. The third option — Westerly emerging as a standalone facility — is possible but would need further review.
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Special Master Mark Russo said the hospital is expected to remain in receivership for 12-18 months after entering receivership last month. Still, Mr. Russo hopes to begin a marketing process in February and expects a potential buyer or partner to emerge roughly three months after that.
Mr. Russo said the best-case scenario is if an existing healthcare network from the region acquired the hospital. Next to that, another likely scenario is that a for-profit company buys the facility. The third option — Westerly emerging as a standalone facility — is possible but would need further review.
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