“CharterCARE is excited at the potential of this proposed acquisition, which allows us to build on Prospect’s significant investment in Rhode Island healthcare,” said Jeffrey Liebman, CharterCARE CEO. “We believe strongly in the mission of CharterCARE and look forward to the opportunity of engaging in a long-term relationship with the community.” “Centurion was created for this exact purpose, to partner alongside providers and communities in creating equitable and cost-effective solutions,” said Ben Mingle, Centurion Foundation President. QHR began providing onsite advisory services to Prospect earlier this summer for operational, financial and support functions of the health system until the transaction closes. QHR Health (QHR), based in Brentwood, TN, partners with nonprofit community hospitals and health systems to help them deliver quality healthcare and achieve results that keep healthcare local. Centurion of Rhode Island will maintain local leadership and will have a Board of Directors that includes local community leaders in the healthcare field. Upon closing, CCHP and its more than 2,500 employees will become a nonprofit health system seeking to increase access and lower the cost of healthcare services for the local community. Centurion focuses on reinvesting operating profits into its facilities, people, and communities it serves.Ĭenturion will establish CharterCARE Health of Rhode Island, Inc., as a 501(c)(3) organization to acquire CCHP from Prospect. Its charitable mission is to increase access to and lower the cost of community-based healthcare. Prospect will also continue to work closely with CharterCARE and its hospitals and ancillary entities.Ĭenturion is an Atlanta, GA-based nonprofit 501(c)(3) corporation organized to finance, own, and operate healthcare facilities.

Prospect will continue to own and operate the value-based care business in Rhode Island consisting of Prospect Provider Group, an independent physician association (IPA), and Prospect Health Services of Rhode Island, which serves 72,000 members through its nearly 500 physicians and other providers in the IPA. Joseph Health & Dental Center in Providence, RI Southern New England Rehabilitation Center in North Providence, RI.Roger Williams Cancer Center in Providence, RI.CharterCARE Home Health Services in Providence, RI.CharterCARE Medical Associates in Providence, RI.Blackstone Valley Surgicare in Johnston, RI.Our Lady of Fatima Hospital in North Providence, RI.Roger Williams Medical Center in Providence, RI.Under the APA, Centurion will purchase the assets and operations associated with the following hospitals and ancillary services that comprise CharterCARE: The agreement also includes CharterCARE’s related businesses, real estate assets, physician clinic operations and outpatient services, and it is subject to customary regulatory approvals, including reviews by the Rhode Island Department of Health and the Rhode Island Attorney General. Centurion also announced that QHR Health will assist in the transition process and will provide ongoing consulting support to CharterCARE senior management and board of directors. (Prospect) announced today they have signed an Asset Purchase Agreement (APA) for Centurion to acquire the CharterCARE Health Partners (CCHP) system from Prospect. PROVIDENCE, RI (November 22, 2022) The Centurion Foundation (Centurion) and Prospect Medical Holdings, Inc.

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