Prime Healthcare Services
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| Private company | |
| Industry | Health care |
| Founded | 2001 |
| Headquarters | Ontario, California, U.S. |
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Area served
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Northern and Southern California, Kansas, Nevada, Pennsylvania, Rhode Island and Texas |
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Key people
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Prem Reddy, MD, FACC, FCCP Founder and Chairman |
| Products | Health care services |
| Subsidiaries | (see list) |
| Website | www |
Prime Healthcare Services was established in 2001 by Chairman of the Board Prem Reddy, MD., F.A.C.C., F.C.C.P. It operates 43 acute care hospitals serving communities in San Bernardino, San Diego, Los Angeles, Inglewood, Orange County and Shasta County in California, Alabama, Florida, Georgia, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, Ohio, Pennsylvania, Kansas, Rhode Island, and Texas. The hospital network has over 42,000 employees and physicians and 7,700+ patient beds.
Dr. Prem Reddy founded Prime Healthcare Services in 2001 with the purchase of Desert Valley Hospital.
In 2014, Garden City Hospital was sold to Prime Healthcare Services in a deal valued at $76 million. As of that point Prime Healthcare operated 27 hospitals. The full listing of hospitals and their acquisition year is listed below.
The company's specialty is overhauling distressed hospitals, and it had an “aggressive” expansion plan for 2013. At a new facility, Prime installs medical directors to focus on quality of care, implements staff training programs and then holds facilities to task to raise standards on par with its other hospitals. As a result, once-struggling facilities have now earned a number of quality awards from organizations including the Joint Commission, the American Heart Association and the Leapfrog Group. In 2016, Becker's Hospital Review listed four Prime Healthcare hospitals in a list of 49 hospitals with the lowest rate of serious complications.
“Prime is one of the companies that's very, very good at turning around distressed hospitals,” said Joshua Nemzoff, president of M&A consulting firm Nemzoff & Co. Nemzoff, who was tasked in January 2011 with helping to find a buyer for Landmark, acknowledged that Prime has been the target of what he described as “a bit of a smear campaign by the SEIU,” but said there's no weight to the allegations. “It's a public relations issue, but when you look behind the accusations that have been made, they're completely baseless.” Two additional stories on hospitals acquired and turned around by Prime Healthcare are featured in this article by Modern Healthcare.
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Wikipedia