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Care New England exploring strategic partnerships

Providence, R.I.-based Care New England is exploring potential strategic partnerships with other organizations, according to a WPRI report.

A Care New England spokeswoman did not provide specifics about the partnership discussions to WPRI, but did make it clear that there are no plans to sell the system.

"We are not in financial distress, we are not for sale, we are not looking to cede control of our system, our hospitals or our agencies," she told WPRI. "We have no specific comment on particular entities with whom we are in confidential discussion, but should any of these discussions result in a closer partnership or affiliation, we would continue our practice of making a public announcement at the appropriate time."

Care New England, the second-largest hospital chain in Rhode Island, finalized its partnership with Memorial Hospital of Rhode Island in Pawtucket in 2013, and has affiliation agreements with the Providence (R.I.) Center mental health group and the Rhode Island Primary Care Physicians Corp. in Cranston, according to the report.

 

More articles on hospital transactions and valuation issues:

Clifton Springs Hospital & Clinic joins Rochester Regional Health System

CHS divests 2 South Carolina hospitals

Mountain States, Wellmont merger confirmed

 

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