Ontario, Calif.-based Prime Healthcare plans to convert Woonsocket, R.I.-based Landmark Medical Center back into a nonprofit entity by donating the organization to its foundation, the Prime Healthcare Foundation, according to Rhode Island Public Radio.
Prime Healthcare acquired the financially troubled medical center in 2012. Since taking over management responsibilities at the facility, LMC has "turned its red finances black," according to the article.
The health system said the medical center's services and staff will not be affected by the change in status.
State officials have yet to approve the proposal. If approved, LMC will be the health system's 13th nonprofit acquisition.