Boston-based Steward Health Care System has signed an agreement to pay more than $71 million for Landmark Medical Center in Woonsocket, R.I., according to a Boston Globe report.
The deal must still be approved by Rhode Island’s attorney general and health department. The largest portion of the deal, $49 million, consists of capital improvements and routine repairs Steward will make at the financially troubled hospital.
The acquisition would convert Landmark from a non-profit hospital to an investor-owned organization. Steward plans to continue operating the facility as a secular community hospital.
Read the Boston Globe report on Steward Health Care and Landmark Medical Center.
Related Articles on Steward Health Care:
Judge Approves Sale of Rhode Island’s Landmark Medical Center to Steward Health Care
Massachusetts’ Morton Hospital Files Notice of Sale to Steward Health Care Systems
Boston’s Steward Health Website Compares its Quality Outcomes to Competitors
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