Prime Healthcare also has entered into a definitive agreement to acquire two additional Tenet hospitals in California – 167-bed Garden Grove Hospital Medical Center and 64-bed San Dimas Community Hospital.
The Garden Grove and San Dimas transactions are subject to customary regulatory approval and are expected to be completed in approximately 30 days.
Prime Healthcare will continue to operate all three hospitals as acute care facilities with open emergency departments and will offer employment to substantially all current employees in good standing.
Prem Reddy, Prime Healthcare’s chairman of the board, said: “Prime Healthcare is poised to acquire more financially distressed and underperforming hospitals in the near future.”