The Rhode Island attorney general has approved the merger of two Providence-area hospitals to form CharterCare Health Partners, a system that will have about $330 million in annual revenue, the attorney general's office said. Terms of the deal have not been disclosed.
R.I. attorney general approves hospital merger
The Rhode Island Department of Health approved the merger in July, so the deal is the first to complete the regulatory requirements of the state's Hospital Conversions Act, the attorney general's office said.
The two hospitals—169-bed Roger Williams Medical Center, Providence, and 271-bed St. Joseph Health Services, North Providence—announced their plan to merge in November 2007; in a news release, the partners said that they expect to be operating as an integrated system by January. In the interim, CharterCare will flesh out its executive team, appoint a chief medical officer to work with both partners' facilities and consolidate administrative support functions.
The new corporate parent company also has named its 15-member board, with seven representatives from Roger Williams—including the chairman—and eight from St. Joseph. Roger Williams and St. Joseph will retain their own boards, the partners said.
What do you think? Post a comment on this article and share your opinion with other readers. Submit your comments to Modern Healthcare Online at [email protected]. Please be sure to include your hometown and state, along with your organization and title.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.