Verity's St. Francis Medical Center Sale Proceeds as Prime Healthcare

Prime Healthcare had the highest and best bid for St. Francis with an offer that provides over $350 million as the sale process enters final stages.
Prime has committed to continuing St. Francis mission, service lines, trauma care, charity care, community benefit programs and service to the underserved.
Prime Healthcare immediately begins implementation of state-of-the-art technology and systems as part of $47 million capital infusion for technology, infrastructure, equipment and system upgrades.
Verity Health and Prime Healthcare value the heroic work of staff and engaged in good faith negotiations with all unions.
Prime Healthcare and Verity Health today highlighted their continued efforts to preserve the legacy and health care mission of St. Francis Medical Center. Since Prime was chosen as the top bidder by the U.S. Bankruptcy Court, millions of dollars have already been invested in state-of-the-art technology improvements?reflecting a commitment to preserving access to care and improving quality for Lynwood and surrounding Los Angeles communities.

Prime, which has earned a national reputation for turning around financially struggling hospitals and saving their community missions, had the highest and best bid approved for St. Francis, in Lynwood, CA., by the U.S. Bankruptcy Court for the Central District of California, with an offer of net consideration in excess of $350 million and also provides for $47 million in much-needed capital improvements.

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Prime Media Contact:
Elizabeth Nikels
ENikels@primehealthcare.com / 909-235-4305

Verity Media Contact:
Jenny Kantor

Company :-Prime Healthcare

User :- erica mary

Email :-ericamary70@gmail.com

Url :- https://www.primehealthcare.com/News/2020/June/Veritys-St-Francis-Medical-Center-Sale-Proceeds-.aspx