Court told that L&M offer meets criteria for sale of Westerly Hospital
Wakefield, R.I.-- The final stage of the process that will enable Lawrence & Memorial Hospital to purchase The Westerly Hospital for $69 million in cash and other financial commitments continued today with Attorney Mark Russo outlining how L&M's offer meets all of the criteria set in earlier proceedings of the receivership case. (Editor's note: This corrects an earlier version.)
Russo said that after soliciting L&M's stalking horse bid this spring he contacted two for-profit hospital companies and at least one Rhode Island hospital network about making a better offer.
"At the end of the day," he told Judge Brian Stern, "they said give us a call if anything changes, but you've got a good offer."