Providence, R.I.-based Lifespan hospital group has decided not to acquire financially failing Woonsocket, R.I.-based Landmark Medical Center, according to a Providence Journal report.
In a statement, Lifespan cited a reduced demand for inpatient beds and Landmark's capital needs to explain its decision, according to the report.
Lifespan was one of several potential buyers, including Brentwood, Tenn.-based RegionalCare, which has already announced its intention to bid on Landmark.
The deadline for bids is March 25.
Read the Providence Journal report on Lifespan and Landmark Medical Center.
Read more coverage on Landmark Medical Center:
- Rhode Island's Landmark Medical Center Receives Bid From Tennessee's RegionalCare Hospital Partners
- Rhode Island's Landmark Medical Center Accelerates Sale Process
- Merger Talks Stall Between Caritas Christi and Landmark Medical Center
In a statement, Lifespan cited a reduced demand for inpatient beds and Landmark's capital needs to explain its decision, according to the report.
Lifespan was one of several potential buyers, including Brentwood, Tenn.-based RegionalCare, which has already announced its intention to bid on Landmark.
The deadline for bids is March 25.
Read the Providence Journal report on Lifespan and Landmark Medical Center.
Read more coverage on Landmark Medical Center:
- Rhode Island's Landmark Medical Center Receives Bid From Tennessee's RegionalCare Hospital Partners
- Rhode Island's Landmark Medical Center Accelerates Sale Process
- Merger Talks Stall Between Caritas Christi and Landmark Medical Center