In its end-of-year financial documents, Care New England said it is finalizing a new strategic plan “focused on going it alone and delaying merger opportunities.”
The health system has been working for years to join another hospital system. Talks first began in 2015 with Southcoast Health System in New Bedford, Mass. That deal fell apart a year later.
In 2017, Care New England announced plans to be purchased by Boston-based Partners HealthCare. However, the deal received pushback from Rhode Island Gov. Gina Raimondo and other regulators. Ms. Ramiondo asked that Care New England first try to work out a deal with Providence-based Lifespan instead of joining Massachusetts’ largest health system.
Partners HealthCare later withdrew its application to acquire the three-hospital system.
And after exploring a merger with Lifespan, Care New England withdrew from merger talks in July, citing several factors, including capital requirements and financial stability of the combined system, community need, antitrust considerations, organizational stability and implementation risks.
Read the full report here.
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