Prime leasebacks.The Alabama-based real estate investment trust that has enabled Prime Healthcare Services Prime Healthcare Services (Prime) is a hospital management company in Southern California. Founded by Dr. Prem Reddy in 2001, it is based in Victorville and Chino in California. It currently owns and operates 8 acute care hospitals. Prime is expanding its portfolio rapidly. Inc. to become one of Southern California's largest hospital operators has taken over Prime's three latest Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County acquisitions under the partners' usual lease-back arrangement. Medical Properties Trust Inc., based in Birmingham, said July 8 that it entered into a $60 million financing arrangement with affiliates of Prime Healthcare related to the three hospital campuses that Prime acquired from Tenet Healthcare Tenet Healthcare Corporation (THC) is an operating company that owns and operates 57 hospitals in the United States [1]. It is based in Dallas, Texas. Its stock ticker symbol on the New York Stock Exchange is NYSE: THC. Corp. These hospitals are the 151-bed Encino campus of the Encino-Tarzana Medical Center, the 167-bed Garden Grove Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. Hospital and Medical Center and the 93-bed San Dimas Community Hospital. As it has done elsewhere, Prime will lease back and manage the hospitals it has sold to Medical Properties. Staff reporter Deborah Crowe can be reached dcrowe@labusinessjournal.com or at (323) 549-5225, ext. 232. |
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