Columbia/HCA Healthcare Corp. and Landmark Medical Center in Woonsocket, R.I., said last week that they ended acquisition discussions "by mutual agreement."
The hospital's trustees voted Feb. 28 not to continue negotiations with Columbia because the transaction did not meet its original expectations, said Robert D. Walker, Landmark's president.
"We were not willing to compromise with Columbia on what we felt were critical issues," he said, adding that the tax-exempt hospital will pursue other networking alternatives.
When asked whether those issues included sales price, Landmark officials said they could not comment on specifics.
Last year, Nashville, Tenn.-based Columbia agreed to acquire the 233-bed hospital and its 50% stake in 82-bed Rehabilitation Hospital of Rhode Island in North Smithfield. (July 24, p. 6).
Terms were not released, but officials had said about $20 million in proceeds would go to the Landmark Health Foundation.