New Buyer Emerges to Purchase Landmark Medical Center (LMC) and the Rehabilitation Hospital of RI (RHRI)
Several months ago Steward Health Care System announced that it was walking away from a deal to purchase LMC and RHRI. The Northern RI UNAP, Local 5067, quickly moved to negotiate a contract with a new buyer, Prime Health Care Services, a system out of California. The Local made a number of concessions but managed to enter into a 5 year contract with Prime, which calls for 2½ % pay increases each year and no change to medical or dental insurance benefits for the life of the contract. The contract goes into effect when the deal closes, which is after the State’s regulators (the Department of Health and the Attorney General) approve the deal. The deal is tentatively scheduled to close in the Spring.