Care New England Signs Agreement With Partners Healthcare for Potential Merger

Wednesday, April 19, 2017

 

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Women & Infants

Financially troubled Care New England has signed an agreement with Massachusetts-based Partners Healthcare to explore a potential merger. 

Founded in 1994 by Brigham and Women's Hospital and Massachusetts General Hospital, Partners HealthCare is a massive collection of services including community and specialty hospitals, a managed care organization, a physician network, community health centers, home care and other health-related entities. 

Partners generated nearly $12 billion in revenue in 2014 - it dwarfs all of the healthcare groups in Rhode Island combined, as Lifespan, RI’s largest healthcare group generates approximately $2 billion a year.

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Care New England Implications

For Care New England — which owns Kent Hospital, Women & Infants, Memorial Hospital and Butler Hospital, the merger could not happen soon enough.

Memorial Hospital has been losing millions and Care New England lost more than $53 million last year. Previously, Care New England was working towards a merger with South Coast Hospital group, but that unraveled due to Care New England’s weak financial conditions.

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Partners Healthcare's New HQ

In October of 2016, the two groups jointly announced the merger was dead, "Care New England and Southcoast share a vision of creating a healthier community through community-based care," said Charles Reppucci, Chair of the Care New England Board of Directors. "We believe both organizations will continue in their unrelenting pursuit of this goal. Yet, for Care New England, we now believe the full extent of our mission as teaching, research and clinical organizations will be better served through today's decision.  We wish all of our colleagues at Southcoast continued success in their commitment to excellence and to community."

According to sources close to the situation, Care New England’s financial condition and the group is losing as much as $5 to $7 million per month.

Rich Copp, Vice President of Communications at Partners referred GoLocal's call to Jim Beardsworth at Care New England.

 

Related Slideshow: The Power List - Health and Education, 2016

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Inside Man

Russell Carey - A name few outside of Brown’s campus know, but Carey is the power source at the Providence Ivy League institution. 

Today, his title is Executive Vice President and he has had almost every title at Brown short of President. Carey is a 1991 graduate of Brown and has never left College Hill.

While Brown’s President Christine Paxson — who is functionally invisible in Rhode Island — is managing alumni affairs and fundraising, Carey is influencing almost everything in Rhode Island.

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Top Raimondo Appointment

Nicole Alexander-Scott - MD, MPH, and rock star in the making. As Director of the Rhode Island Department of Health, she is fast developing a reputation as someone in the Raimondo Administration who can get things done. Her counsel and leadership on developing a strategy on opioid addiction has been widely been lauded.

In addition, she has handled the mundane - from beach closings to food recalls - with competency. An expert in infectious disease, it may be time for her to become a strong leader on Zika.

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The CEO

Ronald Machtley - Bryant University's President rightfully deserves to be on a lot of lists, but what few understand is that Machtley’s influence extends far beyond Bryant’s campus in Smithfield. Machtley could make this list as a business leader or as a political force as much as for education.

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Machtley serves on Amica’s Board and the Rhode Island Foundation, and also serves on the Board of Fantex Brands.

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Power Broker

Larry Purtill - While Bob Walsh gets the face time as the Executive Director in the media for the NEA of Rhode Island, NEARI President Purtill tends to be the inside man who gets things done.

The teachers' largest union is formidable, but is still reeling from the beat down it took when Gina Raimondo’s pension reform cut the benefits of teachers disproportionately over other employee groups. 

Make no mistake about it - not much happens in education in Rhode Island without Purtill's sign-off.

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Visionary

Mim Runey - While Rhode Islanders wait, and wait some more, for development on the 195 land, Johnson and Wale's University's Runey is watching it come to fruition, as JWU is set to open the first completed building on the former Interstate on September 1, when it will host a ribbon cutting for its John J. Bowen Center for Science and Innovation. 

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In 2015, students from the School of Engineering & Design participated in the construction of the Holocaust Memorial on South Main Street, a collaboration between the Jewish Alliance of Greater Rhode Island and the Holocaust Education Resource Center of Rhode Island.

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Chairman of the Board

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His best work to date just might be at CharterCare, where he has helped the once fledgling hospital (Roger Williams Medical Center) into a growing hospital system.

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Lion Tamer

Weber Shill - He serves as the Chief Executive Officer of University Orthopedics, or in other words, dozens and dozens of oh-so-confident docs.

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Boss

Timothy Babineau - President and CEO of Lifespan, Rhode Island's biggest healthcare organization, where financial challenges make the job that much more complicated.

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