Boston-based Steward Health Care System terminated its agreement to acquire Landmark Medical Center in Woonsocket, R.I., according to a Boston Globe report.
Steward and Landmark have been discussing a sale since 2011. According to the report, Steward is backing out of the deal because healthcare parties in Rhode Island and the special master who had run the bankrupt hospital had failed to meet conditions specified in the deal. "Despite support from many of Rhode Island's elected officials, regulators, unions and communities, a number of private healthcare entities are not in support of Steward's model of integrated community care," the hospital chain said in a statement, according to the report.
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Steward and Landmark have been discussing a sale since 2011. According to the report, Steward is backing out of the deal because healthcare parties in Rhode Island and the special master who had run the bankrupt hospital had failed to meet conditions specified in the deal. "Despite support from many of Rhode Island's elected officials, regulators, unions and communities, a number of private healthcare entities are not in support of Steward's model of integrated community care," the hospital chain said in a statement, according to the report.
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