Prime Healthcare acquired the financially troubled medical center in 2012. Since taking over management responsibilities at the facility, LMC has “turned its red finances black,” according to the article.
The health system said the medical center’s services and staff will not be affected by the change in status.
State officials have yet to approve the proposal. If approved, LMC will be the health system’s 13th nonprofit acquisition.
More articles on transactions and valuations:
UnityPoint Health-Meriter to affiliate with Wisconsin hospital
9 Indiana hospitals sign letter of intent to create medical residency consortium
San Francisco General Hospital, UCSF negotiate lease for new research building
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