Key Highlights
- Largest acquisition in Prime Healthcare’s history.
- $250 million investment in facility upgrades and technology.
- Commitment to employment offers for nearly all associates.
- Prime Healthcare recognized for award-winning quality care.
- Expected transaction closure in Q1 2025.
Source: Business Wire
Notable Quotes
- “Prime Healthcare’s Mission and commitment to clinical excellence and health equity will carry on this legacy, ensuring that the greater Chicago area has sustainable, quality healthcare access long into the future.” — Polly Davenport, President and Chief Executive Officer at Ascension Illinois
- “Our agreement with Ascension reflects our decades-long mission of saving, improving and investing in community hospitals.” — Sunny Bhatia, MD, President and Chief Medical Officer at Prime Healthcare
SoHC's Take
This acquisition marks a significant milestone for Prime Healthcare, positioning them to extend their influence and operational excellence to the Chicago area. Their proven track record of revitalizing financially challenged hospitals, coupled with a $250 million commitment to enhancing facilities and technology, underscores their dedication to maintaining high standards of patient care. The alignment of values between Prime Healthcare and Ascension ensures that this transition will not only preserve but also enhance the quality of healthcare services available to the community. The strategic expansion into one of the largest metropolitan areas in the U.S. signifies Prime Healthcare’s growing impact on the national healthcare landscape.
