Prime Health­care’s business is sound, well suited for Daugh­ters deal

Modern Healthcare - - COMMENT -

Re­gard­ing the let­ter to the ed­i­tor “Prime Health­care’s prob­lems make Daugh­ters deal too risky” (Dec. 8, p. 28). Prime Health­care Ser­vices is in the business of sav­ing hos­pi­tals.

To date, our company has res­cued 29 fi­nan­cially dis­tressed hos­pi­tals and saved thou­sands of jobs. By en­sur­ing ac­cess to physi­cian-driven, qual­ity health­care for the com­mu­ni­ties that those hos­pi­tals serve, we are also sav­ing lives. For the work we do, Prime has been rec­og­nized as hav­ing fa­cil­i­ties among the 100 Top Hos­pi­tals in the na­tion 27 times by Tru­ven Health An­a­lyt­ics.

When the Daugh­ters of Char­ity Health Sys­tem se­lected Prime to ac­quire its six strug­gling Cal­i­for­nia hos­pi­tals fol­low­ing an ex­ten­sive duedili­gence process, the sys­tem’s CEO, Robert Is­sai, made clear our company was “far and away the best can­di­date’’ of all the bid­ders, which in­cluded a failed bid­der sup­ported by the Ser­vice Em­ploy­ees Union In­ter­na­tional-United Health Work­ers.

So when SEIU-UHW Pres­i­dent Dave Re­gan writes a let­ter to Mod­ern Health­care mak­ing a num­ber of false ac­cu­sa­tions against us as part of a con­tin­u­ing cor­po­rate cam­paign, you would be well-ad­vised to con­sider the source and in­stead look to the facts.

Prime’s business is sound, and our sys­tem is poised to ex­pand to 42 hos­pi­tals by April, which would make us the fourth-largest for-profit hos­pi­tal sys­tem in the na­tion. As re­cently as May 2014, Stan­dard & Poor’s awarded Prime a B credit rat­ing and a pos­i­tive out­look. Moody’s most re­cently gave Prime a B2 rat­ing.

We have never closed or sold any of our hos­pi­tals. We sus­tain them and take pride in im­prov­ing the qual­ity met­rics at ev­ery hos­pi­tal we ac­quire. We have com­mit­ted to main­tain­ing the Daugh­ters of Char­ity hos­pi­tals, keep­ing them open and op­er­at­ing for years, mak­ing $150 mil­lion in cap­i­tal im­prove­ments in the first three years.

Im­por­tantly, we will ex­tend Daugh­ters’ legacy of char­i­ta­ble care through our own. Since 2010, our hos­pi­tals have pro­vided more than $2 bil­lion in char­ity and un­com­pen­sated care.

Mike Sarian Pres­i­dent of op­er­a­tions Prime Health­care Ser­vices

On­tario, Calif.

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