Transition Healthcare withdraws Landmark bid

PROVIDENCE – Transition Healthcare Co. of Franklin, Tenn., withdrew its bid to purchase the financially troubled Landmark Medical Center in Woonsocket on May 13.
At issue was the manner by which the rules materially changed, Transition said, referring to a decision to allow the court-appointed special master Jonathan N. Savage to begin communications with potential bidders outside the current process.
During an in-chambers session last week, Superior Court Judge Michael A. Silverstein said that he would allow Savage to begin preliminary conversations with new bidders in a “preparatory” manner.
“Transition does not believe it is fair or appropriate to allow new potential bidders to communicate with you about acquiring the Landmark assets at this late stage,” said William S. Fish Jr. of Hinckley, Allen & Snyder, a local attorney representing Transition, in a letter to the court-appointed special master. &#8226