Steward Health Care Receives Extension on Landmark Deal Deadline Again
Rhode Island Attorney General Peter Kilmartin extended Steward's deadline to Sept. 30, although he said he is running out of patience, according to the report. The original closing date was July 27. Mr. Kilmartin gave Steward its first extension last month, extending the original deadline 60 days to Aug. 31.
In a letter written to Steward, Mr. Kilmartin's office said further extensions will be contingent on continued good faith negotiations between Steward and Blue Cross and Blue Shield of Rhode Island, according to the report. Steward and BCBSRI need to agree on reimbursement rates to close the sale, and negotiations have become a major obstacle, according to the report. Ralph de la Torre, MD, CEO of Steward, recently lambasted Mr. Kilmartin for an "unwelcome attitude to Steward" and disappointing behavior in mediating an agreement with BCBSRI.
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