WOONSOCKET, R.I. (AP) — The sale of financially troubled Landmark Medical Center to a for-profit California-based hospital system is complete.
Prime Healthcare Services finalized its purchase of Landmark on Tuesday. The Woonsocket hospital has been in receivership since 2008, and previous deals have fallen through.
Prime also acquired the Rehabilitation Hospital of Rhode Island.
Landmark CEO Rick Charest says Prime’s clinical and operational expertise and financial investment will help the medical center provide the highest quality health care. He tells The Associated Press there are no specific plans for cutbacks and says the hospital will work to be an “absolutely efficient operation.”
Prime CEO Prem Reddy said his company looks forward to working with Landmark employees and that Prime takes seriously its motto of “saving hospitals, saving jobs and saving lives.”