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Blue Cross objects to quick sale of Landmark to Caritas/Steward

May 31, 2011

Just when it seemed we were tying up this Landmark saga into a nice little bow, there’s another snag in the search for a buyer.

Blue Cross Blue Shield of Rhode Island has filed this complaint in Superior Court, objecting to the pace of the  sale of Landmark Medical Center to Steward Health Care System. Here’s BCBS’s prepared statement on the matter

Blue Cross & Blue Shield of Rhode Island (BCBSRI) does not object to the sale of Landmark Hospital to Steward per se, but more to the pace at which the transaction is moving.  There are a number of unresolved issues, including Steward negotiating a contract with us, as well as how BCBSRI will be made whole on the $3 million in back dept that is owed to us.  BCSRI has been and remains willing to negotiate a fair and reasonable contract with any bidder but we have not yet been approached on contract specifics since Steward re-entered negotiations with the Special Master.

What happens now?  I’ll be in court at 2pm to find out.

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