Lifespan in another mega-merger
It is official Lifespan has gobbled up one of the largest physician groups in Rhode Island with little attention.
Lifespan, the largest hospital group in the state, has now acquired Coastal Medical in a deal the two healthcare entities have been working on for over a year.
From For-Profit to Non-Profit
The deal takes the for-profit off the tax roll according to multiple sources and documents filed with the state over a year ago.
The acquisition of Coastal Medical by Lifespan seems to skirt the state’s regulatory structure as one is a hospital group and the other is a practice. Thus, there is no merger review as in the case of hospitals.