The deal would ensure the 297-bed MRMC continues its nonprofit mission, according to a news release.
“Prime Healthcare is committed to continuing the 63-year legacy of Mission Regional Medical Center while upholding its traditions and ensuring the community is afforded the best patient care,” Prem Reddy, MD, chairman, president and CEO of Prime Healthcare, said in the release. “Prime Healthcare’s motto is saving hospitals, saving jobs and saving lives, and we are confident the medical center will grow stronger from this transition. We look forward to working with the Mission Regional employees, nurses and physicians.”
At present, the Prime Healthcare Foundation includes 14 of the 44 hospitals within the Prime Healthcare network.
More articles on transactions and valuations:
23 recent hospital transactions and partnerships
This week’s 3 most-read transactions and valuations stories
Report: Hospital mergers increase institution’s value, savings
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.