PROVIDENCE – “Multiple bids from various parties” to purchase the financially troubled Landmark Medical Center in Woonsocket have been made, according to Bill Fischer, spokesman for court-appointed special master Jonathan Savage.
“I am pleased to report we have received multiple bids from various parties to purchase Landmark Medical Center and the Rehabilitation Hospital of Rhode Island,” Fischer said.
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“This has been a very busy period, and the special master is still continuing to review the bids,” Fischer continued. “At this time, we are not at liberty to disclose further details of the bids received. However, this is clearly great news for the employees of Landmark,” he said.
Wednesday was the bidding deadline; April 1 is the scheduled date when Savage will recommend a bid to Superior Court Judge Michael A. Silverstein. In turn, Silverstein is scheduled to hold a hearing on April 6, at which time he could approve the hospital’s sale.
Three for-profit hospital acquisition companies, all based in Tennessee, have emerged in recent weeks as potential bidders.
RegionalCare, based in Brentwood, Tenn., has signed a nonbinding, nonexclusive letter of intent to acquire Landmark for an undisclosed sum. In addition, both Transition Healthcare Company, LLC, with headquarters in Franklin, Tenn., and Capella Healthcare Inc., also with headquarters in Franklin, Tenn., have expressed potential interest in making a bid.
