Prime Healthcare Foundation, the nonprofit affiliate of Ontario, Calif.-based Prime Healthcare Services, and Mission (Texas) Regional Medical Center signed a non-binding letter of intent for Prime Healthcare Foundation to purchase the medical center.
The deal would ensure the 297-bed MRMC continues its nonprofit mission, according to a news release.
"Prime Healthcare is committed to continuing the 63-year legacy of Mission Regional Medical Center while upholding its traditions and ensuring the community is afforded the best patient care," Prem Reddy, MD, chairman, president and CEO of Prime Healthcare, said in the release. "Prime Healthcare's motto is saving hospitals, saving jobs and saving lives, and we are confident the medical center will grow stronger from this transition. We look forward to working with the Mission Regional employees, nurses and physicians."
At present, the Prime Healthcare Foundation includes 14 of the 44 hospitals within the Prime Healthcare network.