Prime Healthcare Foundation, the nonprofit arm of Ontario, Calif.-based Prime Healthcare, has decided not to pursue the acquisition of two Rhode Island hospitals owned by bankrupt Prospect Medical Holdings. Prime was approached by Rhode Island officials in November regarding the potential purchase of North Providence-based Our Lady of Fatima Hospital and Providence-based Roger Williams Medical Center. In February, Los Angeles-based Prospect received approval from a Texas federal bankruptcy judge to sell the hospitals to The Centurion Foundation, an Atlanta-based nonprofit. However, the foundation has been unable to sell the bonds needed to finance the purchase.
Read the full article: Prime Ends Talks to Acquire 2 Prospect Hospitals in Rhode Island //
Source: https://www.beckershospitalreview.com/hospital-transactions-and-valuation/prime-ends-talks-to-acquire-2-prospect-hospitals-in-rhode-island/