Lawrence & Memorial Hospital in New London, Conn., completed the regulatory filings for its purchase of Westerly (R.I.) Hospital and hopes to receive regulatory approval quickly, according to a New London Patch report.
According to the report, the filings were made under a new process, which could allow for an expedited review from the Rhode Island Department of Health and the Rhode Island Attorney General's Office. The transaction could be approved within 90 days under an expedited review.
Westerly Hospital filed for receivership in December 2011. In August 2012, Rhode Island Superior Court Associate Justice Brian Stern approved L&M Hospital's $69 million bid to acquire the assets of Westerly Hospital.
With regulatory approval, the deal could be completed in early 2013, according to the report.
Lawrence & Memorial Hospital Submits $69M Bid for Westerly Hospital
Lawrence & Memorial Reveals Strategic Benefits of Potential Westerly Hospital Acquisition
According to the report, the filings were made under a new process, which could allow for an expedited review from the Rhode Island Department of Health and the Rhode Island Attorney General's Office. The transaction could be approved within 90 days under an expedited review.
Westerly Hospital filed for receivership in December 2011. In August 2012, Rhode Island Superior Court Associate Justice Brian Stern approved L&M Hospital's $69 million bid to acquire the assets of Westerly Hospital.
With regulatory approval, the deal could be completed in early 2013, according to the report.
More Articles on Westerly Hospital Purchase:
Judge Approves Lawrence & Memorial's $69M Bid for Westerly Hospital in RILawrence & Memorial Hospital Submits $69M Bid for Westerly Hospital
Lawrence & Memorial Reveals Strategic Benefits of Potential Westerly Hospital Acquisition