PROVIDENCE, R.I. (AP) — CharterCare Health Partners plans to purchase and reopen Memorial Hospital in Pawtucket.

CharterCare CEO John Holiver announced the plan in a press conference Thursday with Pawtucket Mayor Donald Grebien.

The company says it would purchase the hospital and its infrastructure while committing $10 million to capital improvements under the plan. It would also host job fairs to prioritize hiring Rhode Islanders and work with Pawtucket to form a tax stabilization framework.

The offer will be contingent on regulatory approval.

The hospital's emergency department shut down in December. Its current owner, Care New England, had been in talks with Boston-based Partners Healthcare about a purchase.

Holiver says the company hopes to restore the hospital's presence in the Blackstone Valley.

Grebien says generations of Pawtucket residents have relied on the hospital.