Blue Cross Blasts Steward Suit Over $40M Hospital Deal
By Sindhu Sundar (July 16, 2013, 3:18 PM EDT) -- Blue Cross Blue Shield of Rhode Island sought Monday to shake off an antitrust suit by private equity-owned Steward Health Care System LLC accusing it of obstructing the hospital group's attempted $40 million takeover of a foundering community hospital in the state.
In a motion to dismiss filed in Rhode Island federal court, Blue Cross argued that Cerberus Capital Management-owned Steward had not properly shown how Blue Cross allegedly blocked its attempt to purchase Woonsocket, R.I.-based Landmark Medical Center, whose financial troubles led a Providence Country superior court to appoint a special master to run it since 2008. Steward had made...
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