Landmark Medical Center in Woonsocket, R.I., has proposed to find a new owner and sign an asset purchase agreements within 13 weeks, according to a Providence Journal report.
The 214-bed facility has been seeking a buyer for more than two years and has been under court supervision since it came to the brink of bankruptcy in 2008.
This week, hospital and state regulators filed a court motion to set a March 25 deadline for bids from prospective buyers. A bidder will then be chosen by March 28 and a sales agreement will be signed within 15 days for court review, according to the report.
The accelerated pace does not mark the immediate possibility of the hospital closing its doors, according to the report, but rather to preserve jobs and services.
Read the Providence Journal report on Landmark Medical Center’s accelerated sale.
Read more about Landmark Medical Center:
– Merger Talks Stall Between Caritas Christi and Landmark Medical Center
– Caritas Christi May Convert Rhode Island’s Landmark Medical
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