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Caritas Is Putting the Moves on Other Hospitals

June 9, 2010

This from the Boston Globe today- Caritas Christi, the Massachusetts hospital chain that’s been trying to buy the financially strapped landmark medical center in Woonsocket, has eyes for other hospitals as well.  The Globe reports that Caritas is talking with Essent Healthcare Inc, which owns Merrimack Valley Hospital in Haverhill and Nashoba Valley Medical Center in Ayer.

Caritas has been pretty busy lately. It’s also in the middle of being sold to Cerberus Capital Management a private equity firm and also the name of the three-headed dog guarding the entrance to Hades (we can only guess why the company would like to draw on that imagery.)

We shall see if Caritas can manage all of these feats at once.  For now, the future of Landmark Medical Center depends on it.

Meanwhile, Landmark is trying to convince the General Assembly to approve a bill that would give the struggling hospital 20 million dollars over the period of 2011 to 2014.

Landmark says it needs the money to make repairs to its building as a part of its potential sale to Caritas. In weeks of testimony convincing Judge Michael Silverstein to let Landmark move closer towards a deal with Caritas, the hospital’s special master did not mention the need for extra cash.

This bill is yet another issue that will be decided in the late hours tonight as the General Assembly rushes to finish its session.

2 Comments leave one →
  1. June 9, 2010 8:18 pm

    In general, consolidation is a healthy byproduct of capitalism. The big fish swallow the small fish, etc. Everyone wins (well, almost everyone).

    Equally healthy is running stadium bleachers. If only we could find an NFL Football team and or MBL Baseball team willing to consolidate our high schools’ stadium bleachers system. Then… we would all benefit from new(er) stadium bleachers. Which… is a most have in Rhode Island. I mean, in Rhode Island, if your school doesn’t have stadium bleachers…. I think there is a bill being introduced by some Left-winger that would ban all funding.

    I’m okay with Medical Center consolidation.

    :}

Trackbacks

  1. Landmark Medical Center Likely to Get Financial Support « The Pulse: Megan Hall has her finger on health care in RI

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