Judge Approves Sale of Rhode Island's Landmark Medical Center to Steward Health Care

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A Rhode Island judge has ruled that Boston-based Steward Health Care Systems can move forward with takeover negotiations of Landmark Medical Center in Woonsocket, R.I., according to a Boston Globe report.

The deal would be Steward's first out-of-state acquisition. Landmark is a financially troubled hospital that has been in court-appointed receivership for the past three years.

Negotiations have been delayed since Steward executives faced difficulty in negotiating higher payments from Blue Cross Blue Shield of Rhode Island. The payor has objected to the pace at which Landmark and Steward are moving.

"Blue Cross Blue Shield of Rhode Island has been and remains willing to negotiate a fair and reasonable contract with any bidder, but we have not yet been approached on contract specifics since Steward reentered negotiations," Kimberly Reingold, a BCBS Rhode Island spokesperson, said in the report.

Read the Boston Globe report on Landmark Medical Center and Steward Health Care Systems.

Related Articles on Steward Health Care Systems:
Massachusetts' Morton Hospital Files Notice of Sale to Steward Health Care Systems
Steward Health Care Systems Bids For Rhode Island's Landmark Medical Center
Boston's Steward Health Website Compares its Quality Outcomes to Competitors

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