Attorney General Neronha announces development in the sale of Roger Williams and Fatima
PROVIDENCE, R.I. – Attorney General Peter F. Neronha today issued the following statement regarding the Bankruptcy Court’s approval of Prospect Medical Holdings’ sale of Roger Williams Medical Center and Fatima Hospital to the Centurion Foundation.
“Over the past several weeks, my Office met with counsel for Prospect and the Centurion Foundation to discuss Prospect’s request for bankruptcy court approval of the sale of Roger Williams and Fatima to Centurion. Following these discussions, Prospect filed a revised Proposed Order, which incorporates our position that this sale can only close if Prospect and Centurion satisfy the conditions imposed by the Attorney General’s and RIDOH’s HCA and CEC Decisions. In other words, approval of this sale is conditional on the parties meeting their obligations to the State of Rhode Island. We reinforced this position in our Response to the sale motion which we filed earlier today.
“Today, Chief Bankruptcy Judge Stacey G. Jerginan approved the sale order incorporating our position, allowing for the private sale to move forward as previously planned.
“The bankruptcy court’s approval of this sale provides reason for cautious optimism. All parties came to the table to prioritize moving these hospitals away from private equity and returning them to local control. At the same time, we can still stop the closing if any of our HCA Decision conditions are not met. Currently, several information requests from the State remain unfulfilled, including those involving critical financial information. My Office will stay vigilant to ensure that our conditions are fully adhered to.
“These safety-net hospitals are absolutely critical for maintaining delivery of safe, affordable and accessible health care services in Rhode Island. Roger Williams and Fatima provide services to largely underserved and underinsured communities, and we must maintain their viability. And in order for us to give these hospitals a fighting chance, our conditions must be met. If all parties meet our conditions as they say they intend to, today brings us one step closer to the finish line.”
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