PROVIDENCE, R.I. (WPRI) — Rhode Island’s third-largest hospital network may soon have new ownership.

The Centurion Foundation, an Atlanta-based nonprofit organization, has signed an agreement to purchase CharterCARE Health Partners from the for-profit Prospect Medical Holdings Inc., a spokesperson for CharterCARE announced Tuesday.

The deal must now be approved by the R.I. Department of Health and R.I. Attorney General’s Office. CharterCARE said it expects the agreement will be submitted for review by the end of the year.

CharterCARE operates several health care facilities in Rhode Island, including Roger Williams Medical Center in Providence and Our Lady of Fatima Hospital in North Providence, and employs more than 2,500 workers.

Should the deal go through, CharterCARE would go back to being a nonprofit health system under Centurion, which said it seeks to “increase access to and lower the cost of community-based health care.”

“Centurion was created for this exact purpose, to partner alongside providers and communities in creating equitable and cost-effective solutions,” Centurion President Ben Mingle said in a news release. “We believe strongly in the mission of CharterCARE and look forward to the opportunity of engaging in a long-term relationship with the community.”

In addition to Roger Williams and Fatima, Centurion would also acquire the assets and operations for CharterCARE Medical Associates, CharterCARE Home Health Services, Roger Williams Cancer Center, Blackstone Valley Surgicare, Southern New England Rehabilitation Center, and St. Joseph Health & Dental Center.

According to CharterCARE, Prospect will continue to own and operate Prospect Provider Group and Prospect Health Services of Rhode Island.

A spokesperson for Attorney General Peter Neronha’s office later released a statement to 12 News saying it will be conducting a comprehensive review of the agreement to make sure it meets the criteria of the Hospital Conversions Act, a state law, and is in Rhode Islanders’ best interest, a process which will likely take months.

“The attorney general is well aware of the important role that Roger Williams and Fatima hospitals play in delivering high-quality, affordable and accessible health care to Rhode Islanders, and recognizes the strong work of the doctors, nurses and other health care professionals at those facilities,” the statement read.

The AG’s office noted that it reviewed a similar transaction involving the two hospitals last year, calling the process “lengthy and contentious.”

“The attorney general ultimately approved that transaction, but only after imposing strong, unprecedented conditions that have ensured those hospitals’ continued financial viability and ability to deliver strong healthcare outcomes. Such caution was necessary then, and it remains necessary now,” the statement continued. “Accordingly, Rhode Islanders can expect the same type of approach from this office with respect to this newly proposed transaction.”