Hospital deal overseen by Superior Court wins award from business network
"The Merger & Acquisition Advisor, based in New York City, announced last week that the hospital’s acquisition in 2013 by Lawrence & Memorial Hospital of New London, Conn., would receive its annual Turnaround Award as Deal of the Year in the health-care sector. The Westerly Hospital filed for receivership in December 2011 after struggling to pay its creditors and employees. Superior Court Associate Justice Brian P. Stern appointed attorney W. Mark Russo as special master to run the hospital during the receivership and to seek bids for its acquisition. Judge Stern presided over dozens of hearings and conferences in the process."
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