Prime Healthcare Services to buy River Valley Health Partners, add one hospital in Ohio
Prime Healthcare Foundation will take over the East Liverpool City Hospital, River Valley Physicians, and Ohio Valley Home Health.
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Prime Healthcare Services continues to target small systems to add to its portfolio, announcing plans on Wednesday to acquire River Valley Health Partners in Ohio for an undisclosed sum.
Under terms of the deal, Prime offshoot the Prime Healthcare Foundation will take over the East Liverpool City Hospital, River Valley Physicians, which runs 8 practices, and Ohio Valley Home Health Services.
[Also: Prime backs out of Daughters of Charity deal]
The Prime Foundation manages eight of Prime's hospitals in California and Texas that run as a nonprofit healthcare system. For-profit Prime has 38 hospitals in total, including those that are part of the foundation.
"The agreement includes a commitment from Prime to maintain inpatient services, strengthen physician recruitment, hire substantially all employees, and to provide a multimillion dollar capital commitment over the next five years," River Valley Chairman Pete Wicks said in the announcement.
[Also: Prime wraps up purchase of St. Joseph Mercy Port Huron hospital]
Since pulling out of its proposed takeover of the Daughters of Charity health system in California over concerns with restrictions placed on the deal by California's attorney general, Prime has closed on a smaller deal to continue growing the system. In September, Prime wrapped up a $17 million deal to acquire the St. Joseph Mercy Port Huron hospital in Michigan.
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