Prospect Subsidiary Offers To Buy, Reopen Shuttered Rhode Island Hospital

Providence-based CharterCare Health Partners (CharterCare) recently announced plans to acquire and reopen the currently closed Memorial Hospital of Rhode Island.

CharterCare plans to submit an offer to Care New England (CNE) for the hospital, which will include $10 million in capital investment in the hospital. If CharterCare succeeds in purchasing the hospital, it plans to return its emergency room to operating status, as well as phase in outpatient services. According to statements from CNE, however, the acquisition would be unfeasible.

CharterCARE Health Partners is a coordinated regional care network comprised of two acute care hospitals, a large nursing home . . .