Centurion Foundation Acquires RI Hospitals

In a significant move to preserve vital healthcare access, Centurion Foundation has successfully acquired two Rhode Island hospitals, Roger Williams Medical Center and Our Lady of Fatima Hospital. This transaction, which concluded on March 6, 2026, transitions the facilities from for-profit entities under Prospect Medical Holdings to tax-exempt non-profit organizations. The deal ensures the continuation of essential services for the communities these hospitals serve, averting potential disruptions like state receivership.

The acquisition represents a multi-year effort, with legal counsel Hall Render advising Centurion Foundation since 2021. This extensive involvement highlights the complexity of navigating distressed healthcare assets, intricate transaction structuring, and critical regulatory hurdles. The successful closure underscores the foundation's commitment to maintaining healthcare continuity and stability in the region.

This strategic acquisition is particularly impactful given the current pressures on independent hospitals. The U.S. hospital sector has faced increasing financial strain, with rising operational costs and evolving reimbursement models. Non-profit conversions, like this one, often provide a pathway to greater financial stability and a renewed focus on community mission, especially for safety-net institutions.

Ben Mingle, CEO of Centurion Foundation, expressed gratitude for the partnership, stating, "We are grateful for Hall Render's trusted partnership throughout this process, which enabled us to complete a transaction that protects patients, supports employees and ensures continued access to essential health care services for Rhode Island while positioning the hospitals for long-term stability and growth." Centurion Foundation will now serve as the sole member of the acquired hospitals.

Chad Sukurs, Shareholder and Board Member at Hall Render, who led the legal team, emphasized the firm's dedication to such mission-critical work. "This transaction reflects the kind of mission-critical work Hall Render is proud to support—helping clients preserve access to care, protect jobs and navigate complex transactional and regulatory environments," Sukurs commented. The firm's deep expertise in healthcare law was instrumental in guiding Centurion Foundation through the multifaceted process.

The acquisition safeguards hundreds of jobs and guarantees uninterrupted care for patients across Providence and North Providence. This outcome is crucial for a region reliant on these facilities for critical medical services. The transition to a non-profit model is expected to foster an environment conducive to long-term operational health and service expansion, benefiting both the workforce and the patient population.

Hall Render, a national law firm exclusively focused on healthcare, has a proven track record in advising on complex healthcare transactions. Their involvement in this deal further solidifies their reputation for managing intricate acquisitions and restructurings within the highly regulated healthcare industry, supporting organizations nationwide in preserving essential services and ensuring operational resilience.