The state House of Representatives and Senate passed the bill this week, according to a Providence Business News report, sending it to the governor’s desk for his signature. Boston-based, for-profit Steward Health Care System has sought the change to the current state law since it is interested in acquiring community hospitals in the Rhode Island market. Specifically, the change in the law was added as a condition to Steward’s asset purchase agreement for Landmark Medical Center in Woonsocket, R.I.
Woonsocket Mayor Leo Fontaine said he met with the governor yesterday and told him a veto would hurt the struggling Landmark Medical Center, a community hospital.
“I am very pleased that the governor will not veto this legislation that is so critical to saving the hospital,” Mayor Fontaine said, according to the report. “We all understand that the closure of Landmark would have been devastating to our community in many ways.”
More Articles on the Rhode Island Hospital Transaction Bill:
R.I. House Passes Bill to Ax Time Restraints on For-Profit Hospital Acquisitions
Moody’s: Rhode Island Bill on Hospital Acquisitions Could Help Community Hospitals
R.I. Senate Approves Bill to Eliminate 3-Year Wait Between Hospital Purchases
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
