In April, L&M made a non-binding offer to acquire The Westerly Hospital. The offer comes about eight months after the two hospitals began merger discussions, which halted when Westerly filed for receivership protection in December.
L&M sent a PowerPoint document and memorandum discussing the strategic benefits of acquiring Westerly to L&M medical staff, according to the report. Acquiring the hospital would increase L&M’s patient and physician pool, according to the documents. The PowerPoint also said the acquisition “is the fastest way to add $90 million of top line growth to the L&M system,” according to the report.
A previous version of this article incorrectly stated Steward Health Care System is a competitor in the acquisition of The Westerly Hospital. We apologize for the error.
More Articles on L&M and The Westerly Hospital:
Lawrence & Memorial Hospitals Renews Interest in Acquiring Westerly Hospital
Westerly Hospital in Rhode Island Files for Receivership
Rhode Island’s Westerly Hospital Explores Affiliation With Lawrence & Memorial
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