Partners Healthcare won’t buy Care New England
Partners HealthCare, a Boston-based health system, has backed out of its planned acquisition of Care New England. Partners’ takeover attempt of the three-hospital health system was defeated by the Governor of Rhode Island, where CNE is based.
Instead, Governor Gina Raimondo asked local hospitals, including Lifespan and Brown University, to consider a merger.
“Over the past several months I have increasingly heard from a number of stakeholders and understand the appeal of a locally-run, academic medical center based in Rhode Island,” she said in a statement. “With that in mind, I have called on Care New England, Lifespan and Brown to sit down once again and consider a joint solution. While I have little control over private hospital systems, I do have the ability to bring these parties together and ask them to reconvene negotiations on a crucial decision that will impact all Rhode Islanders for decades.”
Following the Governor’s words, Partners HealthCare announced it would withdraw its acquisition application. Partners had been attempting to acquire CNE since 2017, according to Boston Business Journal.
“In order to give this effort the best possible chance for success and to provide maximum flexibility to the governor and the leadership of these three institutions, we will be withdrawing our application to acquire CNE,” Anne Klibanski, MD, interim president and CEO of Partners HealthCare, said in a statement. “We look forward to reengaging at the appropriate time–especially with a fully integrated local system. We greatly value our relationship in Rhode Island and want to do what's best for the state and its citizens.”
Klibanski took over as the interim head executive at Partners HealthCare in February, after CEO David Torchiana, MD, retired at the end of April.
Brown University and Lifespan have agreed to convene to work out how to become an integrated hospital that is locally run and an academic institute.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."