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Prime to acquire Central Maine Healthcare

Ontario, Calif.-based Prime Healthcare plans to acquire Lewiston-based Central Maine Healthcare by the end of the year. 

Under the agreement, announced Jan. 8, Prime would become the sole owner of Central Maine Healthcare, an integrated health system with three hospitals, a cancer center and network of physician practices across the state. 

"Prime Healthcare Foundation was selected to steward these hospitals and care sites into the future after a thorough evaluation of the system's mission, vision, and values, and a review of Prime's success investing in hospitals to improve healthcare, especially in vulnerable communities," Devore Culver, chairman of the CMH board of directors, said in a news release. 

As part of the deal, Prime has agreed to invest $150 million in CMH facilities over the next five years. All Central Maine Healthcare facilities will retain their current names and leadership. Prime also stated that it will offer positions to "substantially all CMH team members" and will honor existing provider and physician contracts. 

The deal is expected to close by the end of the year, though terms of the transaction were not disclosed.

Prime operates 44 hospitals in 14 states, ranking as the 20th-largest health system in the country.

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