Prime Healthcare Services has purchased 137-bed Roxborough Memorial Hospital in Philadelphia from Solis Healthcare, the second time in recent months that California-based Prime has added a facility beyond that state's borders.
Prime adds Philly hospital to portfolio
“We look forward to improving the already excellent care provided at Roxborough Memorial Hospital and continuing the strong relationships with the local physicians and community,” said Dr. Prem Reddy, Prime's chairman, in the release. “I'm especially pleased to be associated with the residency programs and school of nursing and plan to continue their admirable and important work.”
Solis, based in Philadelphia, bought Roxborough in 2007 and paid Tenet Healthcare Corp., Dallas, $25.5 million for the hospital. Prime's news release makes note of Roxborough as a stand-alone hospital that would benefit from the money that a larger system like Prime could provide.
Solis is an investor group that included Jack Donnelly, who until October served as the hospital's CEO.
In another recent attempt to expand its reach beyond California, Prime bid to buy Christ Hospital in Jersey City, N.J., but withdrew the offer in early February after sensing a local backlash at the prospect of a for-profit company from another state buying the struggling community hospital.
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