How do you solve a problem like Landmark?
Look what happens when I go on vacation! After weeks of tedious meetings in court where Judge Michael Silverstein kept delaying his decision on who should buy Landmark Medical Center, 2 out of 3 bidders drop out while I’m in Las Vegas!
To recap- both Transition Healthcare and Prime Healthcare Services have taken themselves out of the running to buy Landmark. That leaves only RegionalCare Hospital Partners, which you might remember has a rather antagonistic relationship with Landmark’s union.
According to Bill Fischer, Landmark’s spokesman, Judge Silverstein is still going ahead with the May 27th (Friday) hearing to review the now one bidder’s offer and recommend a buyer or throw the offer out. Landmark’s Special Master Jonathan Savage has been having conversations with other potential bidders. He has permission from the judge to TALK with other people but not allow them to make an offer until after Friday’s hearing.
Meanwhile, Landmark only has about 1.3 million dollars of cash on hand.
When will this ever end? I did a story about Landmark’s future nearly two years ago. At the time, Caritas was looming as a potential savior for the hospital. Now Caritas has dropped out, and two more bidders (Prime and Transition) have come and gone. Otherwise, not much has changed, especially the constant delays.
Is Landmark doomed to slowly die as the judge, bidders, and the Special Master continue this never ending process? How do you solve a problem like Landmark? What’s the best solution for the Woonsocket Hospital? Or is it beyond saving? Let me know what you think.