Ontario, Calif.-based Prime Healthcare Services has finalized its previously announced purchase of 88-bed Lehigh Regional Medical Center in Lehigh Acres, Fla., from subsidiaries of Franklin, Tenn.-based Community Health Systems, according to a report from The News-Press.
Here are five things to know about the transaction.
1. As part of the agreement, Prime will also acquire LRMC's related businesses, including physician clinic operations and ancillary services. LRMC serves a five-county area and is the only comprehensive hospital in the community.
2. Prime has pledged to improve the hospital's financial outlook and invest millions of dollars to purchase new medical equipment, according to the report.
3. Prime has no plans, however, to reduce the hospital's workforce.
4. "Prime Healthcare looks forward to working with the physicians, nurses and employees at Lehigh Regional Medical Center to ensure the best care for the patients they serve," Prime's CEO Prem Reddy said in a written statement, according to The News-Press. "We believe that every community deserves exceptional healthcare close to home. Prime hospitals are consistently ranked among the best hospitals in the nation, and we have no doubt that Lehigh Regional Medical Center will continue that legacy."
5. Financial terms of the deal were not disclosed.
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