Navigation Links
Prime Healthcare Services to Acquire Three Hospitals from Tenet Healthcare Corporation
Date:6/2/2008

VICTORVILLE, Calif., June 2 /PRNewswire/ -- Prime Healthcare Services ("Prime Healthcare"), has acquired the 151-bed Encino Campus of Encino-Tarzana Regional Medical Center from Tenet Healthcare Corporation ("Tenet") effective June 1 and will operate the hospital as Encino Hospital Medical Center. Prime Healthcare also has entered into a definitive agreement to acquire two additional Tenet hospitals in California -- 167-bed Garden Grove Hospital Medical Center and 64-bed San Dimas Community Hospital. The Garden Grove and San Dimas transactions are subject to customary regulatory approval and are expected to be completed in approximately 30 days.

"We are pleased that Tenet selected Prime Healthcare to acquire these three underperforming hospitals in California," said Prem Reddy, MD, FACC, FCCP, Prime Healthcare's Chairman of the Board. "Prime Healthcare is poised to acquire more financially distressed and underperforming hospitals in the near future."

Prime Healthcare will continue to operate all three hospitals as acute care facilities with open emergency departments and will offer employment to substantially all current employees in good standing. The Encino hospital lost over $10 million in fiscal year 2007 according to publicly available data with OSHPD. Garden Grove and San Dimas hospitals' financial performance was marginal.

Prime Healthcare acquires financially distressed hospitals and turns the failing operations around with its proven physician driven and patient focused management protocols with adequate capital infusion. Prime Healthcare has acquired nine such financially distressed and bankrupt hospitals and turned them into thriving community hospitals serving the essential healthcare needs of various communities in Southern California. Prime Healthcare's hospitals have been recognized for their high quality of patient care, the 100 Top Hospitals in the Nation by Thomson Healthcare, Top 1% of Hospitals in the Nation by Premier|CareScience and as a top performing hospital in the Nation by The Commonwealth Fund in a study for CMS/Medicare. Prime Healthcare's hospitals' emergency departments almost always stay open and go on saturation/bypass the least amount of time compared to other hospitals. Prime Healthcare's hospitals see more uninsured patients and offer more charity care than the competitors, both for-profit and not-for-profit.

Prime Healthcare is a progressive, innovative and rapidly expanding hospital management company in Southern California with a mission to provide comprehensive quality healthcare in a compassionate, convenient and cost- effective manner. With over 6,000 employees, Prime Healthcare currently owns and operates nine acute care facilities with over 1600 beds. For more information please visit http://www.primehealthcare.com.


'/>"/>
SOURCE Prime Healthcare Services
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Prime Therapeutics Receives TIPPS Certification
2. Lab Series(R) Skincare For Men Spa Indulges the 2007 Primetime Emmy(R) Nominees at the Sofitel(R) Los Angeles
3. Prime Access Creates Groundbreaking Ads Targeting Urban Teens for the White Houses National Youth Anti-Drug Media Campaign
4. Prime Therapeutics Announces URAC Accreditation
5. Prime Minister views innovative health technology at Imperial College London
6. GenPrime Initiates External Clinical Trials of its Bacterial Contamination Test for Rapid Detection of Bacteria in Platelets
7. Prime Healthcare Services Acquires Centinela Hospital Medical Center
8. Activist Groups Plea to Indian Prime Minister: Rollout Second-Line AIDS Treatment!
9. Announcing Prime Vendor Contract with LIHPA
10. Safety Concerns Prompt Prime to Remove Avandia(R) from Formulary
11. Fetal Alcohol Exposure May Prime Offspring for Alcoholism
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... ... February 10, 2016 , ... The 9th annual meeting ... Congress (WMIC), will be held in New York City, NY on September 7 ... The congress will highlight and emphasize how imaging reveals a greater understanding of ...
(Date:2/10/2016)... ... February 10, 2016 , ... LaserShip, a regional parcel carrier that services the ... Eastern Michigan last Friday in order to aid in the Flint water crisis. In ... a facility located in Clio, only 15 miles away from Flint. , “We have ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... unveiling its revolutionary new 2.0 version at the International Roofing Expo in Orlando, ... power of the world's most advanced weather technology in the hands of consumers, ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... American Academy of Emergency Medicine , an emergency medicine professional association, to support ... services . , The American Academy of Emergency Medicine, or AAEM, seeks to ...
(Date:2/10/2016)... ... February 10, 2016 , ... Emergency rooms provide emergency care to stabilize ... can leave patients with dental emergencies at risk of losing a tooth or their ... care. , Common dental emergencies include:, , Avulsed or ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... , Feb. 11, 2016  Proliant Biologicals is proud ... Serum Albumin (BSA) manufacturing facility.  The facility is located ... , in Feilding. Boone ... to functionally duplicate the systems in the U.S. facility, ... used for U.S. installations.  --> ...
(Date:2/11/2016)... Ill. and INDIANAPOLIS , Feb. 11, 2016 ... young people, but for those with type 1 diabetes, ... these students juggle class schedules, assignments and campus activities, ... type 1 diabetes. On top of that, many are ... Diabetes Scholars Foundation (Foundation) Lilly Diabetes Tomorrow,s ...
(Date:2/11/2016)... Brain Cancer patients in the ... West Cancer Center . Optune™, a ... cancer cell replication causing death of cancer cells, is ... to show a significant extension in overall survival rates ... West Cancer Center is the only medical center in ...
Breaking Medicine Technology: