Ontario, Calif.-based Prime Healthcare Services has closed a $425 million credit facility, a move that is expected to help with the company's growth strategy, including acquisitions.
The $425 million figure is expected to increase to $450 million "in early September," the system said in a news release. There is also flexibility to extend any revolving credit up to $175 million.
CFO Steve Aleman told Becker's earlier this year that new M&A activity was on the horizon as the system attempted to solidify its operational performance.
The 45-hospital system operates more than 300 outpatient locations across 14 states.