Prime Health­care adds an­other hos­pi­tal to its south Texas hub

Modern Healthcare - - REGIONAL NEWS - —Dave Barkholz

An af­fil­i­ate of for-profit Prime Health­care Ser­vices has agreed to buy 297-bed Mis­sion Re­gional Med­i­cal Cen­ter to ex­pand its reach in south­ern Texas.

Prime’s not-for-profit af­fil­i­ate, Prime Health­care Foun­da­tion, ex­pects to close the ac­qui­si­tion by June 30. Terms of the deal were not dis­closed.

On­tario, Calif.-based Prime Health­care owns two other not-for-profit hos­pi­tals near Mis­sion, Texas, which is lo­cated in the Rio Grande Val­ley along Texas’ bor­der with Mex­ico.

As part of the de­fin­i­tive agree­ment with Mis­sion, Prime Health­care Foun­da­tion com­mit­ted to main­tain­ing Mis­sion Re­gional as an acute-care hos­pi­tal, strength­en­ing physi­cian re­cruit­ment and pro­vid­ing sev­eral mil­lion dol­lars in cap­i­tal over the next five years, Prime Health­care said in a state­ment.

“We rec­og­nize the hos­pi­tal’s suc­cesses and will part­ner with physi­cians, nurses, em­ploy­ees and the com­mu­nity to pre­serve this valu­able health­care in­sti­tu­tion for gen­er­a­tions to come,” said Dr. Prem Reddy, Prime Health­care’s CEO.

The agree­ment also in­cludes a man­age­ment agree­ment with Prime Health­care Man­age­ment un­til the trans­ac­tion closes.

Prime Health­care owns 44 hos­pi­tals na­tion­ally, in­clud­ing 12 not­for-profit hos­pi­tals through its Prime Health­care Foun­da­tion.

Reddy

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