PROVIDENCE, R.I. -- Superior Court Judge Michael A. Silverstein approved plans Tuesday to sell Landmark Medical Center to Prime Healthcare, the for-profit California-based owner of 20 hospitals. The deal still requires approval from state regulators.
The decision came after failed efforts by the Chafee administration to attract an in-state buyer for the Woonsocket hospital. The Care New England hospital group withdrew from negotiations on Thursday. Lifespan said it would have liked to make an offer but didn't have enough time.
Prime has been accused of improper billing practices in California but denies any wrongdoing. Prime has promised to spend $60million over five years on capital improvements, equipment, physician recruitment and other expenses. It also pledged to keep the hospital open for five years.
CORRECTION: A previous version of this story gave an incorrect figure for the Prime's proposed investment.
This post was initially published at 1:57 p.m. and updated at 6:38 p.m.