Prime Healthcare Services Donates Award-Winning Sherman Oaks Hospital to Not-For-Profit Foundation
Sherman Oaks, Calif. – Jan. 3, 2012 – Prime Healthcare Services donated Sherman Oaks Hospital, an award-winning, 153-bed acute care hospital located in Sherman Oaks, to the Prime Healthcare Foundation, a 501(c)(3) not-for-profit public charity as of Jan. 1 and free of any existing debt.
The Foundation will spend at least $5 million over the next three years to upgrade the hospital. The move will allow Sherman Oaks, along with its sister not-for-profit Encino Hospital Medical Center, to broaden its reach in the community and continue to serve its needs.
"Prime Healthcare has always been committed to the communities it serves," said Prem Reddy, MD, FACC, FCCP, Prime Healthcare Services Chairman of the Board and founder of the Prime Healthcare Foundation. "The decision to convert Sherman Oaks Hospital to a not-for-profit hospital, like the decision to convert Encino Hospital Medical Center in 2009, was based on our desire to better serve the residents and the surrounding communities who rely on them for quality healthcare."
Sherman Oaks Hospital has been ranked one of the best hospitals in the Los Angeles metro area according to the U.S. News & World Report's first-ever "Best Regional Hospitals" ranking. The hospital received high-performance scores for its pulmonology program. Furthermore, Sherman Oaks Hospital scored high in patient safety, demonstrating commitment to reducing accidents and medical mistakes.
"This is about providing our residents with the best medical care," said Robert C. Bills, CEO of Sherman Oaks Hospital and Encino Hospital Medical Center. "With our patient-centered, physician-led model, we will continue our mission to offer compassionate and high quality healthcare to our community."
Sherman Oaks Hospital
Sherman Oaks Hospital is a 153-bed community hospital centrally located in Sherman Oaks, California. It is staffed by 500 professional and support staff, with 400 physicians on staff. Patients treated through Sherman Oaks Hospital receive the services of a large medical system in a smaller, more personal setting.
SOH serves a diverse population and incorporates elements of urban and suburban medicine, offering a wide array of patient services. We have a bustling emergency department, 16 intensive care beds, digital (film-less) radiology and laboratory services; as well as comprehensive operating suites with separate GI and laboratory facilities and a new cardiac catheterization laboratory. For more information please visit our website at www.shermanoakshospital.com
Prime Healthcare Services
Ontario, CA-based Prime Healthcare Services, recognized as one of the top 10 health systems in the country, is a progressive, innovative and rapidly expanding hospital management company with a mission to provide comprehensive quality healthcare in a compassionate, convenient and cost-effective manner. With over 10,000 employees, Prime Healthcare Services currently owns and/or operates 11 acute care facilities: Alvarado Hospital Medical Center, Centinela Hospital Medical Center, Chino Valley Medical Center, Desert Valley Hospital, Garden Grove Hospital Medical Center, Huntington Beach Hospital, La Palma Intercommunity Hospital, Paradise Valley Hospital, San Dimas Community Hospital, Shasta Regional Medical Center and West Anaheim Medical Center. Nine of these hospitals are accredited by The Joint Commission and seven of the nine hospitals were recently recognized as Top Performers in the Nation (Top 14%) on Key Quality Measures by The Joint Commission, a Medicare accreditation agency.
Prime Healthcare Foundation
The Foundation is a nonprofit public charity that was founded by Dr. Prem Reddy and his family reflecting their commitment to give back to the communities that they serve. The Foundation owns and operates three not-for-profit hospitals, Encino Hospital Medical Center, Sherman Oaks Hospital and Montclair Hospital Medical Center (a Top 100 Hospital in the Nation in 2009), and is governed by an independent Board of Directors.