Prime noted in the release that it will review all health plan contracts to “protect the financial viability of the hospital.” It added that it will offer employment to the hospital's 200 full-time and part-time employees and maintain its charity care policies.
The system also plans to make investments in the hospital's infrastructure and operations.
In an interview last month, Prime's Chief Operating Officer Luis Leon noted that the system has been acquiring hospitals that have struggled financially and operationally, and undertakes an “A to Z” overhaul to improve their performance.
“Prime has a history of quality care and was the best option for Pampa Regional and Signature,” Steve Peterson, Signature Hospital's CFO, said in the release.
Prime Healthcare has made two other acquisitions outside of its home state this year. In February, it purchased Philadelphia-based Roxborough Memorial Hospital from Solis Healthcare. And in March it signed an agreement to buy St. Mary's Regional Medical Center, Reno, Nev., from Dignity Health.
It also owns 14 hospitals in California and one in Harlingen, Texas.