Prime Healthcare closes $425M credit facility

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.

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