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Care New England, Memorial sign letter of intent on merger

Providence Business News, September 11, 2012

Care New England, Rhode Island’s second largest hospital network, and Memorial Hospital of Rhode Island announced Monday morning that they have signed a letter of intent, reaffirming the benefits of a new partnership. Exclusive discussions between the two nonprofit hospital entities began in June, with the goal of exploring the creation of an integrated delivery network as the business model for healthcare shifts toward a population-based, global payment system. The letter of intent was approved unanimously by both boards and signed by Dennis D. Keefe, president and CEO of Care New England and Arthur DeBlois III, interim president and CEO of Memorial Hospital.