The Rhode Island Department of Health has approved the hospital conversion and change in effective control applications of Prospect Medical Holdings and CharterCARE to establish a joint venture to be called Prospect CharterCARE, LLC that will own Roger Williams Medical Center, St. Joseph Health Services of Rhode Island d/b/a Our Lady of Fatima Hospital and related healthcare facilities. Each of these facilities will be converted from not-for-profit to for-profit statuses.
"I am pleased to approve the applications, as conditioned in the Decisions," said HEALTH Director, Michael D. Fine, MD. "I hope the implementation of these approvals, as conditioned, will strengthen the fiscal condition of these valued hospitals. I also hope the implementation of these approvals, as conditioned, will improve the overall healthcare provided by our Rhode Island hospitals as we work together to make healthcare affordable and work together to improve the health of all Rhode Islanders."
Approval and implementation of these applications will result in (1) the issuance of new hospital licenses to Prospect CharterCARE RWMC, LLC and Prospect CharterCARE SJHSRI, LLC; (2) issuance of a new nursing home license to Prospect CharterCARE Elmhurst, LLC; (3) the issuance of a new organized ambulatory care facility license to CharterCARE RWMC, LLC d/b/a Roger Williams Sleep Disorders Center; and (4) the issuance of a new home nursing care provider license to Prospect CharterCARE RWMC, LLC d/b/a CharterCARE Home Health Services.
To view the Decisions, visit: http://www.health.ri.gov/programs/hospitalconversionsmerger/