Prime Healthcare completes historic acquisition of St. Francis Medical Center

Prime Healthcare completes historic acquisition of St. Francis Medical Center

Press releases may be edited for formatting or style | August 14, 2020 Business Affairs
(Ontario, CA) – Prime Healthcare announced today that it has successfully completed the acquisition of St. Francis Medical Center, signaling a new era of service excellence and award-winning healthcare for an essential medical facility in Los Angeles County.

After an extensive four-month review process and public hearing, the sale of the 384-bed Lynwood, CA hospital to Prime Healthcare received final approval from the U.S. Bankruptcy Court for the Central District of California and the California Attorney General. Prime was chosen as the best and highest bidder to acquire St. Francis based on a significant financial commitment of over $350 million, unique ability to turn around struggling hospitals, history of clinical quality and a commitment to continue the mission of the hospital. Prime will continue service lines, charity care and community benefits while investing millions in technology, systems and infrastructure improvements to modernize the delivery of patient-centered care.

“Prime Healthcare is honored to continue the legacy of St. Francis Medical Center, an indispensable community partner comprised of committed doctors, nurses, and staff dedicated to saving lives and serving all those in need,” said Sunny Bhatia, MD, CEO of Region I of Prime Healthcare. “Prime is prepared to lead St. Francis into a bright future and we are grateful for the opportunity along with the support we have received from the community.”

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St. Francis Medical Center, located in Southeast Los Angeles, is a historic acute care hospital with one of the largest and busiest emergency departments and Level II trauma centers in Los Angeles County, treating nearly 64,000 emergency patients and more than 2,000 trauma patients a year.

“Prime has remained deeply committed to St. Francis and was chosen as the most capable and only bidder with the fortitude to support the hospital in its time of greatest need, despite the burden of the pandemic, the uncertain future and economic impact on hospitals,” said Rich Adcock, CEO of Verity Health. “We have been impressed by the unwavering dedication and talent of the Prime team and we are confident that Prime will preserve and improve upon the St. Francis legacy for future generations of the South Los Angeles community, as it has done for hospitals and communities time and time again across this nation.”

The sale of the hospital to Prime Healthcare received the support of the St. Francis Board of Directors, community members, staff and physicians, as well as elected officials in Los Angeles County. “I can think of no other health system with the expertise, resources and commitment to quality to take on the crucial task of preserving St. Francis for the South Los Angeles community,” said Inglewood Mayor James Butts, whose own community hospital, Centinela Hospital Medical Center, was on the brink of closure before being saved by Prime in 2007. “Centinela Hospital Medical Center is today one of the leading hospitals in Los Angeles County, more than fulfilling the promises Prime Healthcare made years ago to our community.”

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