Boston-based Steward Health Care and Blue Cross and Blue Shield of Rhode Island reached a settlement over a lawsuit claiming the health insurer obstructed Steward's attempted $40 million takeover of a Rhode Island hospital, according to WPRI.
Here are three things to know about the case:
1. In April, a federal judge denied BCBS' motion for summary judgment in an antitrust suit filed by Steward in 2013. In May, the judge denied the insurer's request to immediately appeal the April ruling.
2. Instead of going to trial, BCBS and Steward asked U.S. District Judge William Smith to dismiss the suit in a joint court filing. The terms of the settlement were not released, according to WPRI.
3. In its original lawsuit, Steward alleged BCBS "purposely thwarted Steward's acquisition and planned revitalization" of Woonsocket, R.I.-based Landmark Medical Center by refusing to negotiate in good faith for reasonable reimbursement rates for Landmark and actively conspiring with Providence, R.I.-based Lifespan and Woonsocket-based Thundermist Health Center to help block the deal.
Ayla Ellison contributed to this article.
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