Carondelet Health, Prime Healthcare Services Sign Agreement for Sale

(Kansas City, Mo.) October 14, 2014 – Carondelet Health in Kansas City, Mo., a part of Ascension, and Prime Healthcare Services, Inc., have signed a definitive agreement for the acquisition by Prime of the majority of the facilities of Carondelet Health.

The transaction includes St. Joseph Medical Center in Kansas City and St. Mary's Medical Center in Blue Springs, Mo, as well as other assets of Carondelet Health.

The three Carondelet Health long-term care facilities – Carondelet Manor, Villa Saint Joseph and St. Mary's Manor – and the two hospitals' charitable foundations will remain part of Ascension.

"This agreement strengthens the ministry and ensures that its caring associates and physicians will be able to continue to meet the healthcare needs of the community," said Robert J. Henkel, FACHE, Executive Vice President of Ascension and President and Chief Executive Officer of Ascension Health. "Ascension will continue to serve this community by providing senior services as part of Ascension Health Senior Care."

"Prime Healthcare understands the value these hospitals bring to their communities, and we intend to help the hospitals provide residents with the high quality healthcare they deserve," said Prem Reddy, MD, FACC, FCCP, Chairman, President and CEO of Prime Healthcare Services. "Our motto is 'Saving Hospitals, Saving Jobs, Saving Lives,' and we take that responsibility seriously. We look forward to completing the process and working with the physicians, nurses and employees to ensure the best care for the patients we serve."

The transaction is subject to customary approvals. Specific terms of the agreement are confidential.