State leaders take steps to facilitate potential sale of Roger Williams, Fatima hospitals

PROVIDENCE, R.I. (WJAR) — Rhode Island Attorney General Peter Neronha, Gov. Dan McKee and others announced they have taken multiple steps to facilitate the potential sale of two hospitals facing financial problems.
Financially troubled Prospect Medical Holdings, which owns Roger Williams Medical Center and Fatima Hospital, has been trying to sell the hospitals.
A deal to sell the hospital to Centurion Foundation in Georgia was first announced more than three years ago, but the deal has been behind schedule as Centurion tried to secure financing.
According to a joint statement released by state leaders, Neronha has filed a proposed stipulation and order in the Texas bankruptcy court that will extend the transfer date until Feb. 27 if approved.
Centurion has said it had verbal commitments from four investors that aggregate to an amount sufficient to close the proposed acquisition of the two hospitals
The company earlier this month asked for $18 million reserve bond from the state to help with the purchase.
In a statement Thursday, state officials said the General Assembly leadership will introduce a legislation that would authorize the $18 million in state funding to help close the deal.
The General Assembly will also introduce to allow for an expedited Hospital Conversions Act in case Centurion fails to close and an alternative purchaser is identified, officials said.
“These hospitals are crucially important to maintaining stability within Rhode Island’s health care system. The state is committed to working on solutions that promote the transfer of these hospitals to a purchaser who will keep them open and thriving," state officials said in a joint statement.








