Roger Williams Medical Center in Providence and Our Lady of Fatima Hospital in North Providence have been losing money for years. According to Rhode Island Attorney General Peter Neronha, that's because the California hedge fund that owns them has prioritized investor returns over patient care. California-based Prospect Medical is now trying to sell these two Rhode Island hospitals to an Atlanta-based nonprofit called the Centurion Foundation. But Prospect ended up filing for Chapter 11 bankruptcy protection last month before it could complete the sale. The company recorded debts up to $10 billion. The bankruptcy filing meant a judge needed to approve the sale, and time was of the essence, because the company could not afford to keep running the hospitals. Even so, various stakeholders opposed the sale for different reasons.
