Prime Healthcare Services, based in Ontario, Calif., and operator of 15 for-profit, acute-care hospitals, recently received a $150 million revolving credit facility.
The new line of credit will be used to refinance one of Prime's existing facilities, and it will also go toward Prime's strategy to grow and acquire more hospitals.
"The refinancing of our existing cash flow facility was critically important for Prime, as it allowed us to save a substantial amount in interest expense annually while providing Prime the flexibility to borrow when needed for acquisitions," Prime CFO Roger Krissman said in a news release.
The new line of credit will be used to refinance one of Prime's existing facilities, and it will also go toward Prime's strategy to grow and acquire more hospitals.
"The refinancing of our existing cash flow facility was critically important for Prime, as it allowed us to save a substantial amount in interest expense annually while providing Prime the flexibility to borrow when needed for acquisitions," Prime CFO Roger Krissman said in a news release.
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