PROVIDENCE, R.I. (WPRI) -- Another major bank is joining the effort to find financing for the transfer of Roger Williams Medical Center and Fatima Hospital to a new owner, as bond investors remain skeptical about the deal.
Bank of America has been hired to work with Barclays as "co-senior managing underwriter" of the proposed bond transaction, according to a spokesperson for the R.I. Health and Educational Building Corp., the quasi-public agency that is supposed to issue the debt.
The two hospitals, which operate under the joint umbrella of CharterCARE, are majority-owned by Prospect Medical Holdings, a California-based for-profit company that filed for bankruptcy earlier this year and has long faced criticism for its stewardship of the facilities. Prospect is trying to sell CharterCARE