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Prospect, Brown University discuss joining forces to acquire Care New England

Los Angeles-based Prospect Medical Holdings and Providence, R.I.-based Brown University are reportedly in discussions to jointly purchase Care New England, also in Providence, WPRI-12 News reports.

Multiple sources told wpri.com Prospect and Brown are discussing the possibility of forming a joint venture to purchase the health system. The sources said the outcome of the talks is uncertain due to the complexity and sensitivity of the discussions, according to the report.

One source said the organizations may present their proposal if CNE's negotiations with Boston-based Partners HealthCare fall through, the report states. CNE and Partners announced their intent to enter into exclusive negotiations to integrate in April. However, officials said in September the transaction would not be completed until "well into 2018."

A Brown University spokesperson told WPRI-12 News in a statement, "Care New England has been an important partner, so of course we are concerned about its future. We certainly are considering what the options would be if the Partners HealthCare deal were not to succeed, but we are not at a point where we feel it's appropriate to publicly share ideas and concepts. It simply would be premature."

A spokesperson for CNE told WPRI-12 News the health system has not been approached by Brown and Prospect.

Editor's note: Becker's Hospital Review reached out to Prospect Medical Holdings and Care New England for comment and will update the article as more information becomes available.

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