PROVIDENCE, R.I. (Legal Newsline) - Rhode Island Attorney General Peter Kilmartin announced the approval Monday of the proposed sale of Landmark Medical Center and Rehabilitation Hospital of Rhode Island to Prime Healthcare Services Inc. and its affiliates.
Kilmartin announced the sale, with conditions, pursuant to the Hospital Conversions Act. The decision marked the second time the sale of Landmark to Prime was approved.
"Clearly, a five year special mastership for any business is not an ideal situation and is not the model which others should endeavor to match," Kilmartin said. "The regulatory review for the purchase of Landmark has been approved for the second time, and Prime has satisfied the requirements enumerated by the HCA."
The conditions of the approval include that Prime must transfer certain charitable assets to the Rhode Island Foundation for disbursement, inform Kilmartin's office of any actions taken against it or any of its hospitals or affiliates by any government entities and provide information about any actions taken against Prime or any final resolution to an inquiry currently being conducted regarding coding at Prime's hospitals.
"As in its previous review, this office has diligently reviewed the proposed transaction pursuant to the Hospital Conversions Act," Kilmartin said. "We continue to spend significant time conducting reviews of hospital transactions, with this being the third approval of a hospital conversion issued in this calendar year, not to mention the review and approval of the prior Landmark deal."
Kilmartin said he is committed to providing the resources of his office to provide comprehensive reviews of all hospital conversions to make sure Rhode Island residents have access to quality and affordable healthcare services.