Company to Assume Care of 81,000 HMO-Covered Lives, Including Almost 10,000 Seniors

CULVER CITY, Calif.--(BUSINESS WIRE)--Prospect Medical Holdings, Inc. (AMEX: PZZ) (“Prospect”), which manages the medical care of HMO enrollees in Southern California, today announced that it has signed a definitive agreement to acquire ProMed Health Care, which is comprised of two Independent Physician Associations (“IPAs”) -- Pomona Valley Medical Group and Upland Medical Group – and ProMed Health Care Administrators, the management services organization (“MSO”) that serves these IPAs. The acquisition, which is expected to be immediately accretive to earnings, is expected to close on June 1, 2007. The Boards of Directors of both companies have approved the transaction.

Source: Prospect Medical Holdings to Acquire ProMed Healthcare for $48.0 Million


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