Rhode Island's Senate Health and Human Services Committee has amended a bill with language proposed by Steward Health Care to eliminate a requirement that for-profit hospital corporations must wait three years between acquiring hospitals, according to a report from The Call.
The new version of the bill would amend Rhode Island's 15-year-old Hospital Conversions Act by striking the mandatory pause between hospital acquisitions and also reducing the regulatory review process from 180 days to 120. The state Department of Health and attorney general would have approximately four months to review applications from for-profit companies to purchase non-profit hospitals.
The bill was filed at the request of Boston-based Steward. The company has pursued an acquisition of Landmark Medical Center in Woonsocket, R.I., but has not revealed plans for additional hospital acquisitions in Rhode Island.
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The new version of the bill would amend Rhode Island's 15-year-old Hospital Conversions Act by striking the mandatory pause between hospital acquisitions and also reducing the regulatory review process from 180 days to 120. The state Department of Health and attorney general would have approximately four months to review applications from for-profit companies to purchase non-profit hospitals.
The bill was filed at the request of Boston-based Steward. The company has pursued an acquisition of Landmark Medical Center in Woonsocket, R.I., but has not revealed plans for additional hospital acquisitions in Rhode Island.
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