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The Centurion Foundation and

CharterCARE Health Partners

Welcome.

This website will provide you with important information regarding Centurion’s agreement to purchase CharterCARE Health Partners from Prospect Medical Holdings, subject to state regulatory review.

CharterCARE's hospitals, Roger Williams Medical Center and Our Lady of Fatima Hospital, and its related holdings, will return to non-profit status under this proposed transaction and will pursue its charitable health mission under Centurion. Centurion is an Atlanta, GA-based nonprofit 501(c)(3) corporation organized to finance, own, lease and operate healthcare facilities. Its charitable mission is to increase access to and lower the cost of community-based healthcare. Centurion focuses on reinvesting operating profits into its facilities, people, and communities it serves.

Centurion works with non-profit hospitals to create unique real estate financing solutions that strengthen their financial position.

These solutions save the hospitals hundreds of thousands to millions of dollars annually while allowing the hospitals to maintain control of thrir assets. This innovative Centurion strategy is reducing non-profit hospitals’ dependence on REIT and Private Equity profit-motivated funded solutions. In the last five years, Centurion has completed more than $1 billion in related transactions. Over the life of these transactions, Centurion is lowering the cost that the hospitals would otherwise have to pay in excess of $1 billion.

We think this is an exciting and positive opportunity for Rhode Island’s health care system. We will use this web site to provide additional information and context once the state’s regulatory review process begins.

In the meantime, please use the Comments/Questions section of this site to communicate with us.

Thank you!

A Joint Message

The Centurion Foundation Submits Hospital Conversion Act Application to Purchase CharterCARE from Prospect Medical

A Message to the Rhode Island Community

Who Is Affected By This?

Under the APA, Centurion is to purchase assets and operations associated with:

Roger Williams Medical Center in Providence, RI
Our Lady of Fatima Hospital in North Providence, RI
Blackstone Valley Surgicare in Johnston, RI
CharterCARE Medical Associates in Providence, RI
CharterCARE Home Health Services in Providence, RI
Roger Williams Cancer Center in Providence, RI
Southern New England Rehabilitation Center in North Providence, RI
St. Joseph Health Center in Providence, RI

What You Need To Know

The agreement includes the hospitals’ related businesses, real estate assets, CCHP Health Medical Group and the associated assets, ambulatory centers, medical office buildings, physician clinics and ancillary outpatient services.

Prospect will continue to own and operate the value-based care business in Rhode Island consisting of Prospect Provider Group, an independent physician association (IPA), and Prospect Health Services of Rhode Island, which serves 72,000 members through its nearly 500 physicians and other providers in the IPA. Prospect will also continue to work closely with CCCHP and its hospitals and ancillary entities.

Becoming A Non-Profit Health System

Centurion will seek regulatory approval to return CharterCARE to a non-profit status. Centurion’s mission is to ensure that all its health care holdings pursue charitable missions in their communities

Value to the Community

The stresses of the COVID-19 pandemic have demonstrated the importance of CCHP’s hospitals as vital access points for care in the communities we serve. this experience has highlighted the importance to the Rhode Island Community of maintaining the vitality of the CCHP hospitals.

Financials

We believe at this time that the benefits created through an affiliation will help to restore the organizational vitality of CCHP and stabilize these important health care resources in our community.

Labor/Workforce

CCHP’s highly experienced and talented workforce of 2,500 caregivers will be an asset to Centurion, as they’ve been to Prospect.