Attorney General Peter F. Kilmartin today announced that he has approved, with conditions, the proposed sale of Landmark Medical Center and Rehabilitation Hospital of Rhode Island ("Landmark") to Prime Healthcare Services, Inc., and affiliated entities ("Prime"), pursuant to the Hospital Conversions Act (HCA).
"Cleary, a five year special mastership for any business is not an ideal situation and is not the model which others should endeavor to match," said Attorney General Kilmartin. "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 laid out in the decision include, but are not limited to, that Prime transfer certain charitable assets to the Rhode Island Foundation for disbursement, provide information about any actions taken against Prime or any final resolution to the investigation currently being conducted by the Department of Justice and Office of Inspector General regarding coding at Prime's hospitals, and that Prime inform the Attorney General of any actions taken against it or any of its hospitals or affiliates by any governmental entities.
"As in its previous review, this Office has diligently reviewed the proposed transaction pursuant to the Hospital Conversions Act. 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," added Kilmartin. "I am committed to providing the increasingly necessary resources of this Office to provide a thorough review of all hospital conversions to ensure that Rhode Islanders have access to quality and affordable healthcare services that they have come to expect and deserve."