Westerly Holdco Submits Offer for Westerly Hospital in Rhode Island

Westerly Holdco Submits Offer for Westerly Hospital in Rhode Island
April 20, 2012 - Kathleen Roney | Beckerhospitalreview

Westerly (R.I.) Hospital Holdco, a limited liability company, has submitted an official letter of intent for the acquisition of Westerly Hospital.

Westerly Holdco's affiliate, NS Healthcare Holdco, submitted a separate offer to purchase Westerly Hospital's North Stonington (Conn.) Health Center. According to the report, Westerly Holdco intends to keep Westerly Hospital open as an independent community hospital for at least 10 years to maintain and expand existing services.

Westerly Holdco and NS Healthcare Holdco are affiliated with IJKG Opco, a hospital management company in Bayonne, N.J. IJKG Opco owns Hoboken (N.J.) University Medical Center, Bayonne (N.J.) Medical Center and was recently approved by a bankruptcy judge to purchase Christ Hospital in Jersey City, N.J., through Hudson Holdco, another affiliate.

Lawrence & Memorial Hospital in New London, Conn., has also submitted an offer to purchase some or all of Westerly Hospital's assets.

According to a report by The Day, six hospital entities have expressed interest in Westerly Hospital, but only Westerly Holdco and Lawrence & Memorial have submitted preliminary offers.

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