Prime Healthcare Foundation has completed its acquisition of Mission Regional Medical Center according to a foundation press release announcing the final acquistion.
With its acquisition the Ontario, California-based company now owns and operates 45 hospitals in 14 states, including six acute care facilities in Texas, per the press release.
The company announced in May it would be acquiring the medical facility with an anticipated completion date of July 1. Almost immediately the company fired more than 120 medical center employees from the 297-bed non-profit hospital.
Rated one of the top hospitals in the country for clinical excellence in maternity care and orthopedic care, Mission Regional Medical Center has been offering quality healthcare for over 60 years. As part of the acquisition, Prime Healthcare Foundation will maintain inpatient and outpatient services, strengthen physician recruitment, and provide a multimillion-dollar capital commitment over the next five years.
Prime Healthcare Foundation is 501(c)3 public charity with a mission of providing quality healthcare for all and is affiliated with Prime Healthcare. The Foundation now includes 13 of the 45 hospitals within the award-winning Prime Healthcare network. One of the 13 Foundation hospitals, all of which are not-for-profit, is Knapp Medical Center in Weslaco. Another member of Prime Healthcare in south Texas is Harlingen Medical Center located in Harlingen, TX.
“With the many changes happening in the healthcare industry, it’s critical that community hospitals like Mission Regional Medical Center are provided the opportunity to thrive,” said Prem Reddy, M.D., Chairman, President and CEO of Prime Healthcare. “We look forward to working with the physicians, nurses and employees at Mission Regional to provide quality healthcare to their community for generations to come.”
“As a member of the Prime Healthcare Foundation family of hospitals, we look forward to continuing our dedicated service to our community with additional resources and support from an award winning health system,” said Kane Dawson, CEO of Mission Regional Medical Center. “We are confident we found the best partner to help us enhance the quality of life in the Rio Grande Valley.”
Prime Healthcare and the Prime Healthcare Foundation are dedicated to providing the best quality care to the communities they serve. Prime Healthcare has been recognized among the “15 Top Health Systems” three times by Truven Health Analytics, and its hospitals have been recognized 38 times among the “100 Top Hospitals” in the nation, according to the press release.