Projo Biz Blog

Gary Gaube, the chief executive officer of finacially ailing Landmark Medical Center submitted his resignation this morning, according to a statement from the Woonsocket hospital.

Landmark has been losing money for many years and at the end of the last fiscal year was $7.2 million in the hole. The hospital petitioned Superior Court late last month to clear the way for a potential merger with another hospital.

In the petition, Gaube, chief executive officer and trustee of Landmark, cited the facility's providing of more than $8.5 million annually in uncompensated care to the uninsured and the underinsured.

Gaube has remained on the job since the filing June 26, the day a Superior Court judge named Jonathan Savage, a Pawtucket lawyer, to oversee the hospital's operation.

In his role as overseer, Savage is functioning as the hospital's president, chief executive officer and chairman of the board, approving all expenditures, hiring and other decisions.

Last week, Judge Michael A. Silverstein said he expects to name a national health-care expert to direct the hospital's operations, possibly in conjuction with Savage.

The developments left open whether a role remained at Landmark for Gaube.

"I take great pride in the success we achieved in bringing new and expanded healthcare services to our community," Gaube said in a statement released to The Journal. "There is no doubt, that these are trying times financially for all community hospitals and I feel the timing is right to announce my departure as Landmark begins this new chapter in its long history."

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