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Prime Healthcare completes purchase of hospitals in 4 states: 5 things to know

Ontario, Calif.-based Prime Healthcare Services has completed the acquisition of four acute care hospitals, growing its network to 42 hospitals in 14 states.

Here are five things to know about the transactions.

1. Prime acquired 88-bed Lehigh Regional Medical Center in Lehigh Acres, Fla.; 331-bed Southern Regional Medical Center in Riverdale, Ga.; 153-bed Suburban Community Hospital in East Norriton, Pa.; and 152-bed River Valley Health Partners in East Liverpool, Ohio.

2. Prime Healthcare Foundation — the nonprofit affiliate of Prime Healthcare — acquired Southern Regional Medical Center, River Valley Health Partners and Suburban Community Hospital. Those hospitals will remain nonprofit facilities.

3. Prime committed more than $80 million to capital improvements at the four hospitals over the next five years.

4. "We are confident that these new members of the Prime Healthcare family of hospitals will maintain high standards for quality care that are sustainable for the long term," said Luis Leon, president of operations, division II for Prime Healthcare. "Being part of a large health system allows patients to have access to the highest quality of care and services, and we are excited to be able to provide this to our new communities in Florida, Georgia, Ohio and Pennsylvania."

5. Prime has had an aggressive growth strategy in recent years, and last week it received $700 million in financing that will be used to fund acquisitions.

More articles on healthcare industry transactions:

26 hospital transactions and partnerships in January
Novant, Memorial Health partnership marches forward
CHI St. Luke's expands footprint in Texas


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