Ontario, Calif.-based Prime Healthcare Services originally expected its $35 million acquisition of Mercy Suburban Hospital in East Norriton, Pa., to be completed by October of last year and then that date was pushed back to the end of 2015. Now, the deal is set to close Feb. 1, according to the Philadelphia Business Journal.
Prime inked an agreement to acquire Mercy Suburban in March and filed documents in August that showed the price it will pay for the facility.
Although Prime had hoped to close the deal in 2015, Peter Adamo, Prime's regional CEO for the Philadelphia market, understood why the closing date for the transaction was pushed back.
He said there are many operational systems shared by Mercy Health System's hospitals controlled out of the health system's headquarters in Conshohocken, Pa. "That has created some complexities and delays. We've had to restructure some of the original understandings," Mr. Adamo told the Philadelphia Business Journal.
Prime's acquisitions of two other hospitals in the region — Roxborough Memorial Hospital in Philadelphia and Lower Bucks Hospital in Bristol, Pa. — went much smoother than the Mercy Suburban deal. That is because Roxborough Memorial and Lower Bucks were both freestanding and independently owned, according to the report.
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