Prime Healthcare Services, Ontario, Calif., has donated 100% of its ownership interest in 102-bed Montclair (Calif.) Hospital Medical Center to Prime Healthcare Services Foundation, Ontario, effective Dec. 31, 2010, according to a news release issued Thursday.
Prime converts Montclair to not-for-profit
The hospital is the second that Prime Healthcare Services has transferred to the foundation, after 151-bed Encino (Calif.) Hospital Medical Center was donated to the foundation in 2009, according to the release. Both now operate as tax-exempt hospitals.
The foundation is a tax-exempt, 501(c)3 organization established in 2007, according to GuideStar.org, a website that tracks tax-exempt organizations. The foundation has its roots in a $1 million donation made in 1989 by Dr. Prem Reddy, chairman of Prime Healthcare Services and the foundation, according to the PHS and foundation websites.
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