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Steward Backs Bill to Lift Time-Restraints on Rhode Island Hospital Acquisitions

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A Rhode Island bill filed at the request of Boston-based Steward Health Care System would eliminate a requirement that for-profit hospital operators must wait three years between hospital acquisitions in the state.

If the bill goes through, for-profit companies would be able to acquire more than one hospital in the same year or any subsequent year if regulatory approval is still met. Steward has applied to purchase Landmark Medical Center in Woonsocket, R.I., but it has not shared plans for additional acquisitions in Rhode Island.

A blog entry from Megan Hall, reporter for Rhode Island NPR, includes a quote from a Steward official that shows the system is open to further hospital transactions in the state. "If a community hospital approached us and wanted to join Steward and we thought it was a good fit, obviously, it would be something we'd discuss with them," Steward Spokesperson Christopher Murphy said in the report.

The bill is up for a hearing today in the House Corporations Committee.

Related Articles on Hospital Acquisitions:

FTC's Stance Toward Hospital Mergers Grows More Aggressive
15 Recent Hospital Mergers & Acquisitions
FTC Announces Changes to Premerger Filing Requirements

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