Neronha OKs Prospect hospital plan with $80M escrow provision

Updated at 4 p.m. on June 1, 2021

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R.I. ATTORNEY GENERAL Peter F. Neronha on Tuesday announced he would approve the ownership change for the company that owns two Rhode Island hospitals providing it sets up an $80 million escrow account. / COURTESY R.I. ATTORNEY GENERAL'S OFFICE
PROVIDENCE – Attorney General Peter F. Neronha has given the go-ahead for an ownership change of two Rhode Island hospitals owned by Prospect Medical Holdings Inc. as long as the company puts up $80 million in an escrow account. Neronha’s decision, announced during a Tuesday press conference, revives the ownership change proposed from California-based Prospect,…

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