Four-hospital Lifespan and three-hospital Care New England reportedly spent $8 million on the merger during three years of planning.
“The deteriorating financial condition of the state, significant increases in uncompensated care, the uncertainty of federal reimbursements for health care services and the accelerating pace of regional competition require the full attention of these institutions at this crucial time,” Lifespan CEO George A. Vecchione said in the release.
Read Care New England’s and Lifespan’s joint release on the ended Rhode Island hospital merger plans.
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