Prime Healthcare to acquire three hospitals from Tenet Healthcare - California

Dr. Prem Reddy on the move once again...3 hospitals that could become focused on ER care and restructured as what has been done in the past...although Prime offers more charity care than the competitors, both profit and not-for-profit...so now we are back to the payment of the bills once more...Dr. Reddy states he wants the insurance companies to pay, not the patients...as referenced in a prior post, the managed care department of California is presently looking to resolve this issue....and as many hospitals are at the brink of financial stability, this could be the only way they might continue to operate...hopefully Mr. Reddy can get the insurer's to start paying the bill....BD

Prime Healthcare Services has acquired the 151-bed Encino Campus of Encino-Tarzana Regional Medical Center from Tenet Healthcare Corporation ("Tenet") effective June 1 and will operate the hospital as Encino Hospital Medical Center.

Prime Healthcare also has entered into a definitive agreement to acquire two additional Tenet hospitals in California -- 167-bed Garden Grove Hospital Medical Center and 64-bed San Dimas Community Hospital. The Garden Grove and San Dimas transactions are subject to customary regulatory approval and are expected to be completed in approximately 30 days.
"We are pleased that Tenet selected Prime Healthcare to acquire these three underperforming hospitals in California," said Prem Reddy, MD, FACC, FCCP, Prime Healthcare's Chairman of the Board. "Prime Healthcare is poised to acquire more financially distressed and underperforming hospitals in the near future."

Prime Healthcare to acquire three hospitals from Tenet Healthcare