Prospect Medical Holdings in Discussions to Acquire Hospital Group in Southern California

I'm sure there will be more to come on this soon, as this reads this is a little different from the recent IPA acquisition of ProMed in the inland empire..BD

CULVER CITY, Calif.--(BUSINESS WIRE)--Prospect Medical Holdings, Inc. (AMEX: PZZ) (“Prospect”), which manages the medical care of approximately 250,000 HMO enrollees in Southern California, today announced that it is in substantive discussions to acquire a private, for-profit hospital management company that owns and operates several community-based hospitals in Southern California.

The acquisition is subject to, among other things, the signing of a definitive agreement, finalizing the financing for the transaction, obtaining regulatory and other consents, and other customary closing conditions. Prospect is making this announcement in advance of contemplated regulatory filings and lender-sponsored meetings connected with the proposed transaction.

Source:  Prospect Medical Holdings in Discussions to Acquire Hospital Group in Southern California