Care New England withdraws from negotiations with Lifespan, Brown
By: Amanda Pitts
PROVIDENCE, R.I. (WLNE) – Talks between Lifespan and Care New England on a potential hospital merger have ended.
In a statement Tuesday, Care New England CEO Dr. James Fanale announced that the CNE board voted to formally withdraw from discussions with Lifespan and Brown University.
“As those responsible for the fiduciary oversight of CNE, the Board has concluded that it is in the best interest of CNE and the community it serves to end the tri-party discussions. In making this decision, the Board took into account many considerations, including but not limited to, capital requirements and financial stability of the combined system, community need, anti-trust considerations, organizational stability, and implementation risks.”
The trio was in talks for six weeks at the urge of Governor Gina Raimondo after Boston-based Partners pulled out of a deal to acquire CNE.
Raimondo wanted to create a locally-based academic hospital. She issued the following statement Tuesday morning:
“I’m disappointed that the parties were not able to come to an agreement. I continue to believe that a locally-run, academic medical center is what’s in the best interest of Rhode Island. I have encouraged the parties to keep an open mind, remain open to future discussions, and to continue to pursue expanded collaboration that could pave the way to further integration down the road.”
Care New England owns Women and Infants, Kent, and Butler Hospitals.
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