Boston-based Steward Health Care may back out of its deal to purchase Landmark Medical Center in Woonsocket, R.I., according to a WPRI.com report.
Steward and Landmark have been discussing a sale since 2011. This upcoming Saturday is the deadline for Steward to close the deal. The deadline has been pushed back multiple times by Rhode Island Attorney General Peter Kilmartin.
According to Jonathan Savage, the court-appointed special master overseeing the sale of Landmark, he no longer expects Steward to go through with the transaction.
Landmark spokesman Bill Fisher told WPRI that Mr. Savage is pursuing other buyers for the hospital. "[Steward has] not formally withdrawn but we've got to prepare — and have been preparing — a Plan B if this scenario unfolds." According to the report, Mr. Savage will seek instructions on how to proceed from Superior Court Judge Michael Silverstein, who is overseeing Landmark's receivership.
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Steward and Landmark have been discussing a sale since 2011. This upcoming Saturday is the deadline for Steward to close the deal. The deadline has been pushed back multiple times by Rhode Island Attorney General Peter Kilmartin.
According to Jonathan Savage, the court-appointed special master overseeing the sale of Landmark, he no longer expects Steward to go through with the transaction.
Landmark spokesman Bill Fisher told WPRI that Mr. Savage is pursuing other buyers for the hospital. "[Steward has] not formally withdrawn but we've got to prepare — and have been preparing — a Plan B if this scenario unfolds." According to the report, Mr. Savage will seek instructions on how to proceed from Superior Court Judge Michael Silverstein, who is overseeing Landmark's receivership.
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