Ontario, Calif., Oct. 28, 2013 – The Rhode Island Office of the Attorney General granted final regulatory approval to California-based Prime Healthcare Services today for the acquisition of Landmark Medical Center and Rehabilitation Hospital of Rhode Island. The decision by the Attorney General today concludes the regulatory process as the Department of Health had issued their approval of the acquisition last Friday.
"An enormous amount of dedication and commitment from so many has produced today's accomplishment. In particular, I want to thank our employees whose hard work and patience helped us persevere through the daunting challenges of the past five years. I also want to thank Dr. Reddy and his entire management team at Prime Healthcare Services for their unwavering commitment and support of our hospitals. Without it, it is difficult to envision how we would have survived," said Rick Charest, president and CEO of Landmark Medical Center and the RHRI.
"We want to thank both the Office of the Attorney General and Department of Health for their thorough review of the application and for the time and resources they have dedicated to it," said Luis Leon, president of hospital operations for Prime Healthcare Services. "Now that the regulatory process has concluded, we look forward to delivering high quality hospital care to the residents of the greater Woonsocket community and welcoming Landmark to the Prime Healthcare Services hospital network."
The special master will file a petition with the court requesting authorization to close the sale. This petition will, among other things, establish a closing deadline. The parties are requesting that the court approve a closing date of no later than December 31, but they are targeting November 30 as their preferred closing date.
Prime Healthcare Services is an award-winning hospital system that was recognized as a Top 15 Health System in the nation in 2013 by Truven Health Analytics (formerly Thomson Reuters) for quality patient care and patient satisfaction. It was the third time in five years the health system was recognized. No health system in Rhode Island, Connecticut, New Jersey or New York has ever received such recognition.