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Prime Healthcare Foundation Signs Definitive Agreement to Acquire River Valley Health Partners

10/20/2015 | 07:58pm EST

ONTARIO, Calif., Oct. 20, 2015 /PRNewswire/ -- River Valley Health Partners (RVHP) and Prime Healthcare Foundation have signed a definitive agreement for the acquisition of RVHP.

"The mission of the Prime Healthcare Foundation matches with the long term mission and vision of RVHP and we look forward to the future with great pride," said RVHP Board of Trustees Chairman Pete Wicks. 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.

"RVHP has provided high quality healthcare to the residents of East Liverpool for more than a century," said Prem Reddy, MD, FACC, FCCP, Chairman, President and CEO of Prime Healthcare Services. "Through our acquisition of RVHP, we look forward to partnering with physicians, nurses, employees and the community to preserve this invaluable healthcare institution for generations to come."

The acquisition is expected to close in the first quarter of 2016, pending regulatory review and closing conditions.

The Prime Healthcare Foundation is a non-profit hospital system that operates seven hospitals in California and Texas. It is affiliated with Prime Healthcare Services, an award-winning hospital system with 38 acute care hospitals providing more than 40,000 jobs in 11 states. Together, Prime Healthcare Services and the Prime Healthcare Foundation are dedicated to providing the best quality care to the communities they serve and have been recognized as among the "15 Top Health Systems" three times by Truven Health Analytics.

About River Valley Health Partners:
RVHP is an Ohio non-profit corporation comprised of The City Hospital Association, doing business as East Liverpool City Hospital, a 152 bed acute care hospital; River Valley Physicians, LLC, comprised of 8 primary care and specialty offices; and Ohio Valley Home Health Services, Inc. RVHP serves a population of more than 115,000 from throughout the tri-state area of Ohio, West Virginia, and Pennsylvania. East Liverpool City Hospital (ELCH) was recently recognized as a Top Performer on Key Quality Measures® by The Joint Commission. For more information please visit us at
www.elch.org.

About Prime Healthcare Services and Foundation:
Prime Healthcare Services is an award-winning national hospital system with 38 acute-care hospitals providing more than 35,000 jobs in 11 states. Seven of the hospitals are members of the Prime Healthcare Foundation, a 501(c)3 public charity. Based in California and one of the largest hospital systems in the
country, Prime Healthcare is committed to ensuring access to quality healthcare. It has been recognized as among the "100 Top Hospitals" in the nation 33 times and among the "15 Top Health Systems" three times, and is the only "10 Top Health System" west of the Mississippi. Our hospitals have been recognized by The Joint Commission among the "Top Performers on Key Quality Measures" in 2014. For more information, please visit www.primehealthcare.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/prime-healthcare-foundation-signs-definitive-agreement-to-acquire-river-valley-health-partners-300163501.html

SOURCE Prime Healthcare Services


ę PRNewswire 2015
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