Latest news with #OurLadyofFatimaHospital
Yahoo
01-08-2025
- Business
- Yahoo
Roger Williams, Our Lady of Fatima hospitals sale to move forward. Here's why
PROVIDENCE – Attorney General Peter Neronha announced Thursday, July 31 an amended decision to facilitate the sale of Roger Williams Medical Center and Our Lady of Fatima Hospital. The decision – the second amended in the sale process – reduces the cash-on-hand requirement for the Centurion Foundation, a Georgia-based nonprofit, from $80 million to $45 million for closing the deal. The reduction of cash-on-hand, explained Neronha at a press conference, was due to Centurion having difficulties selling bonds to raise funds for the purchase of the hospitals. But the amended decision also requires Centurion and CharterCARE to secure an additional $35 million within 90 days, bringing the funds back to $80 million. Neronha said the parties have given him assurances on their ability to raise funds post-sale that, in his judgment, could be relied on. The attorney general also said he secured the remaining $50 million – from an original $80 million in an escrow account – to create a hospital fund as part of the transaction. Additional conditions have also been attached to the sale, among them: A requirement for the parties to spend at least $50 million on capital expenses at the hospitals within three years of the transaction A requirement for the parties to not contest the attorney general's right to file a petition for the appointment of a receiver in case of insolvency The detainment of a consultant, at the expense of the parties, to report on the financial and operation state of the hospitals 'While this is a complicated process, our goal is simple: make sure our safety net hospitals are in the best position possible to serve our communities for as long as possible,' Neronha said in a written statement following the press event. Neronha explained that the hospitals were not yet entirely out of danger but that progress has been made: the hospitals are staying provisionally open, are shifting from for-profit to nonprofit and the attorney general's office will have levers to pull in case of an insolvency. 'I don't want to stand here and gaslight Rhode Islanders and make them believer, or have them believe, that all the problems have been solved. They haven't,' Neronha said at the July 31 press conference. 'But we have made some steps forward.' The attorney general added that Rhode Island's chronic low reimbursement rates from public and private insurance need to be addressed to treat the health system's ailments. 'Until we make a Rhode Island patient mean the same financially as a Massachusetts or a Connecticut patient, our hospital systems and our providers and our workers are always going to be at a state of disadvantage,' Neronha said. The anticipated closing date for the sale – pending approval by a bankruptcy court in Texas – is sometime in late August or mid-September. The full amended decision is available here. This article originally appeared on The Providence Journal: Roger Williams, Our Lady of Fatima hospital sales moving forward Solve the daily Crossword
Boston Globe
21-04-2025
- Politics
- Boston Globe
Dominick Ruggerio's political evolution was personal
Related : But there has been a noticeable change in Ruggerio in recent years. He became more comfortable in his highly visible role as the president of the Rhode Island Senate. Maybe it was being a grandfather? Maybe he was adjusting to leading a chamber that was far more liberal than him? Get Rhode Map A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State. Enter Email Sign Up So after Rhode Island lawmakers overwhelmingly approved a sweeping environmental bill called the Advertisement 'I've been called a lot worse,' he chuckled, showcasing a slight hint of vulnerability: he knew people still gossiped about a shoplifting incident he was involved in more than three decades ago. Ruggerio Advertisement It was not the most graceful end, in part because he chose to pursue another term as president of the Senate at a time when he knew he was unwell. As he was fighting for his life, his family saw weekly headlines about whether he was going to be in But that shouldn't overshadow or tarnish the legacy of a man who served more than 40 years in the Rhode Island General Assembly, first as a state representative, and since 1985, as a senator. Ruggerio was an influential leader within the laborers' union as he gained political power, and it was generally true that he was going to support legislation that created construction jobs at almost every step. He wanted to build a minor league baseball stadium in Providence. He supported the redevelopment of the 'Superman' building, no matter the cost. He thought the land opened up in Providence by moving Interstate 195 would be an economic catalyst for the state. So he allowed the Act on Climate to pass even as many of his friends in the business community had deep concerns. When few other politicians were willing to make it a front-and-center issue, he fought to ensure that employees at Our Lady of Fatima Hospital would have a secure retirement as the hospital's pension fund collapsed. He even showed an Sure, some of that was pragmatic politics. But it also marked the evolution of a man who enjoyed nothing more than watching his granddaughter go horseback riding and perform in dance recitals. He wanted a safer, fairer, cleaner future for all four of his grandchildren. And because of him, they'll have it. Advertisement A few years ago, his political team and the Providence firefighters organized a winter coat giveaway at Veazie Street Elementary School in the city. He spent the day helping poor kids pick out their favorite colors and styles as they tried on different jackets. At the end, he turned to his team and told them it was the best thing he'd done in his political career. I mostly stopped covering Ruggerio for a little while because my partner, Nora, went to work for him as his policy director for two years. She didn't know Ruggerio before she took the job – for a little while there he called her 'Norma' – but she viewed him as a compassionate leader who cared more about policy than many people thought. Most importantly, she found him to be a gentleman. In late 2023, I started covering him again because Nora had left his office, and I asked about his top priorities for the upcoming legislative session. He floated an idea that he hadn't mentioned to anyone before: building a Plenty of people scoffed at the idea. One lobbyist even asked if I put the idea in his head. Nope. As has been the case a lot in recent years, Ruggerio was ahead of his time. He knew there was a Advertisement We're still a long way from URI getting a medical school. There's a long-term study commission underway. But if it happens, URI should name the school after Ruggerio, or at least award him a posthumous doctorate. Dr. Green New Donny has a nice ring to it. Dan McGowan can be reached at
