Merger talks between Boston-based Caritas Christi Health Care System and Landmark Medical Center in Woonsocket, R.I., have stalled, according to a Providence Journal report.
While the deal could still materialize, a representative for Landmark said the biggest roadblock for the deal was inadequate reimbursement rates from Blue Cross & Blue Shield of Rhode Island that could not successfully be renegotiated. Blue Cross denied the hospital's claims of underpayment saying in paid Landmark nearly $30 million last year.
In August, Caritas Christi asked a Rhode Island judge to approve its acquisition of the struggling 214-bed facility, which has been under court supervision for two years.
Read the Providence Journal report on Landmark Medical Center.
Read previous coverage on Landmark Medical Center:
- Caritas Christi May Convert Rhode Island's Landmark Medical
- Caritas Christi Closer to Acquiring Rhode Island's Landmark Medical Center
- Rhode Island's Landmark Medical Center Seeks $20M State Bailout
While the deal could still materialize, a representative for Landmark said the biggest roadblock for the deal was inadequate reimbursement rates from Blue Cross & Blue Shield of Rhode Island that could not successfully be renegotiated. Blue Cross denied the hospital's claims of underpayment saying in paid Landmark nearly $30 million last year.
In August, Caritas Christi asked a Rhode Island judge to approve its acquisition of the struggling 214-bed facility, which has been under court supervision for two years.
Read the Providence Journal report on Landmark Medical Center.
Read previous coverage on Landmark Medical Center:
- Caritas Christi May Convert Rhode Island's Landmark Medical
- Caritas Christi Closer to Acquiring Rhode Island's Landmark Medical Center
- Rhode Island's Landmark Medical Center Seeks $20M State Bailout