Eversheds Sutherland Advises The Centurion Foundation on Completed Acquisition of Roger Williams Medical Center and Fatima Hospital

The acquisition was financed with $101 million in private bonds raised through Bank of America under the sponsorship of the Rhode Island Health and Education Building Corporation (RIHBEC), with critical assistance from Attorney General Peter F. Neronha, Governor Dan McKee, House Speaker Joseph Shekarchi, and Senate President Val Lawson through the creation of an $18 million supplemental reserve fund requested by investors.

As part of the sale transaction, a new 501 (c)3 non-profit organization, CharterCARE Health of Rhode Island (CHRI), has been created to provide local governance and management. The CHRI Board and advisory boards for both hospitals have a majority membership of local physicians and community leaders.

Read the full press release here.

The Eversheds Sutherland team was led by Partner and US Finance Practice Group Leader David Wender, with support from Senior Associate Sameer Alifarag.