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:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A Forever ... Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation ... as home to some of the world’s leading providers of cereal and other breakfast ...
(Date:6/26/2016)... ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal trainer is helping ... fitness app. The fitness app plans to fix the two major problems leading the fitness ... size fits all type program , They don’t eliminate all the reasons people ...
(Date:6/25/2016)... , ... June 25, 2016 , ... Austin residents seeking ... American College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical ... effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the ... Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. , “We ... new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health and ... their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards took ... the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to receive ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... June 23, 2016 Any dentist who has made ... the current process. Many of them do not even offer ... difficulties and high laboratory costs involved. And those who ARE ... at such a high cost that the majority of today,s ... Dr. Parsa Zadeh , founder of Dental Evolutions Inc. ...
(Date:6/23/2016)... Capricor Therapeutics, Inc. ... company focused on the discovery, development and commercialization ... in its ongoing randomized HOPE-Duchenne clinical trial (Halt ... its 24-patient target. Capricor expects the trial to ... 2016, and to report top line data from ...
(Date:6/23/2016)... and BOGOTA, Colombia , June 23, 2016  Astellas today announced the establishment of Astellas Farma ... as the company,s second affiliate in Latin America . ... ... Astellas Farma Colombia ... ...
Breaking Medicine Technology: