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Two At-Risk Rhode Island Hospitals Returned to Local Management
Centurion Foundation, a charitable 501(c)(3) organization that works with healthcare, educational and government institutions, said Wednesday that Roger Williams Memorial Center in Providence, RI and Our Lady of Fatima Hospital in North Providence, RI, both previously at risk of closure, have been financially stabilized and returned to local, non-profit management.
Both hospitals were previously owned by Prospect Medical Holdings, a Los Angeles-based private equity-backed owner that filed for Chapter 11 bankruptcy protection in 2025, putting the Rhode Island facilities at risk of imminent closure. The recapitalization package included more than $100 million in privately financed bonds, along with an $18-million reserve fund from the State of Rhode Island.
“This is a triumph by a nonprofit organization over a private equity giant that secures jobs and critical healthcare services for patients and entire communities,” said Ben Mingle, CEO of Centurion Foundation.
The new nonprofit entity, organized as CharterCARE Health of Rhode Island and guided by local governance and management, will oversee the governance and management of the hospitals.
- ◦Financing
