Lawrence & Memorial Hospital in New London, Conn., has submitted a "preliminary nonbinding proposal" to acquire some, or all, of Westerly (R.I.) Hospital's assets, according to a report by The Day.
In August 2011, Westerly Hospital and Lawrence & Memorial considered a strategic alliance. However, negotiations ended abruptly when Westerly voluntarily entered receivership and came under the control of a court-appointed special master. The process for Westerly Hospital's sale began February 2012.
According to the report, Westerly finished the 2011 fiscal year with a $5.7 million operating deficit.
Westerly Hospital in Rhode Island Files for Receivership
Rhode Island's Westerly Hospital Explores Affiliation With Lawrence & Memorial
In August 2011, Westerly Hospital and Lawrence & Memorial considered a strategic alliance. However, negotiations ended abruptly when Westerly voluntarily entered receivership and came under the control of a court-appointed special master. The process for Westerly Hospital's sale began February 2012.
According to the report, Westerly finished the 2011 fiscal year with a $5.7 million operating deficit.
More Articles on Westerly Hospital:
Rhode Island's Westerly Hospital Expected to Hit the Market in FebruaryWesterly Hospital in Rhode Island Files for Receivership
Rhode Island's Westerly Hospital Explores Affiliation With Lawrence & Memorial