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Prospect Medical Group to add 10,000 physicians with 3 acquisitions

Prospect Medical Group will double in size when it completes the acquisition of three medical practices later this year. 

Prospect Medical Group, owned by Los Angeles-based Prospect Medical Holdings, entered into an agreement April 22 to acquire certain assets of CalCare IPA and Los Angeles Medical Center IPA, both of which serve Los Angeles County, and Vantage Medical Group in San Diego, San Bernardino and Riverside, Calif. 

The transaction, which is subject to customary closing conditions and approvals from contracted health plans, is expected to close this summer. 

The three independent medical associations, representing more than 10,000 physicians, will join Prospect's existing network of about 10,000 providers when the transaction closes. 

"This is a great opportunity to expand Prospect's system of coordinated care to a much larger market," said Prospect Medical Systems CEO Jim Brown. "Our vision is that everyone has access to quality health care when they need it, and we look forward to partnering with a new network of physicians to make that a reality."

More article on healthcare industry transactions:
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For-profit hospital M&A update: 12 deals involving CHS, HCA and Quorum
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