CharterCare Health Partners To Purchase, Reopen Care New England’s Memorial Hospital In Providence RI

On April 12, 2018, CharterCare Health Partners (CharterCare) announced plans to purchase and reopen the Memorial Hospital located in Providence, Rhode Island. The purchase from current owner, Care New England (CNE), is pending the ability to obtain all appropriate regulatory licenses, and certificates of need reinstated so that CharterCARE may provide services historically provided by Memorial Hospital. The purchase is also contingent on CharterCARE’s ability to either negotiate fair rates with insurance carriers or the adoption of legislation that would mandate reimbursement rates that are comparable to other hospitals in Rhode Island.

Monetary details of the transaction are not . . .