10.132.34.32

Subscribe to our mailing list

What Topic Matters Most To You?
View Privacy Policy

RI Business Community Extremely Concerned About Financial Viability Of Care New England

In a recent interview, Rhode Island Business Group on Health’s Executive Director indicated that the business community was concerned about the financial viability of Care New England.

Rhode Island Hospital

In a recent interview with GoLocalProv’s Kate Nagle, Rhode Island Business Group on Health’s Executive Director Al Charbonneau indicated that the business community was concerned about the financial viability of Care New England and about the impact of the merger with Partners Healthcare.

Nagle: “One of the big elephants in the room. You talked about hospital mergers. What’s going to happen to with Care New England? And how concerned is the business community about this?”

Charbonneau: “I think the business community is extremely concerned about this. Both in terms of the financial viability of Care New England. It obviously has some problems along the line. And the cost impact of Partners Healthcare potentially moving into this community. It is a very great concern and it should be a concern for most people.”

In recent months, Care New England has faced tumult on numerous fronts: its CEO has announced his resignation, the company lost $61 million this fiscal year, its credit was downgraded, and executives at Partners announced they were holding off on their acquisition.

Care New England’s other deal, to sell Memorial Hospital to Prime Healthcare Services, hit a rocky road earlier this year as Prime’s credit was downgraded among a Department of Justice investigation.