Ontario, Calif.-based Prime Healthcare Services entered into an agreement to acquire Mercy Suburban Hospital in East Norriton, Pa., in March, and recently filed documents show that Prime will pay $35 million for the facility, according to a Philadelphia Business Journal report.
After repaying loans and legal and consulting expenses, the sale is only going to net the hospital about $300,000. Those details were contained in documents filed by Mercy with the Montgomery County Orphans Court, which is responsible for overseeing the transaction.
Mercy Suburban suffered $49 million in losses in fiscal years 2013 and 2014, according to the report, which cites data from the Pennsylvania Healthcare Cost Containment Council.
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