Prime Healthcare Foundation and Mission Regional Medical Center Sign Letter of Intent
Posted on Jan 31, 2017
(Mission, Texas) – The Board of Directors of Mission Regional Medical Center have
selected Prime Healthcare Foundation as its preferred partner. The organizations
have signed a non-binding Letter of Intent, the next step in a process
leading to a definitive agreement for Prime Healthcare Foundation to purchase
the medical center.
Prime Healthcare Foundation, a 501(c)3 public charity based in Ontario,
CA with a mission of providing quality, compassionate healthcare for all,
is affiliated with Prime Healthcare. The Foundation includes 14 of the
44 hospitals within the award-winning Prime Healthcare network; one of
the 14 Foundation hospitals is Knapp Medical Center located nearby Mission
in Weslaco, Texas. Another member of Prime Healthcare in south Texas is
Harlingen Medical Center located in Harlingen.
The purchase of Mission Regional Medical Center by Prime Healthcare Foundation
would ensure the medical center continues its not-for-profit mission of
providing quality care and superior service to the people of Hidalgo County,
Starr County and the surrounding communities.
“Prime Healthcare is committed to continuing the 63-year legacy of
Mission Regional Medical Center while upholding its traditions and ensuring
the community is afforded the best patient care,” said Prem Reddy,
MD., chairman, president and CEO of Prime Healthcare. “Prime Healthcare’s
motto is saving hospitals, saving jobs and saving lives, and we are confident
the medical center will grow stronger from this transition. We look forward
to working with the Mission Regional employees, nurses and physicians.”
According to the Letter of Intent, Prime Healthcare Foundation would continue
to operate Mission Regional Medical Center in a manner consistent with
its historic mission.
“Mission Regional Medical Center has faithfully served the community
since 1954 and looks forward to joining the Prime Healthcare family of
hospitals,” said Javier Iruegas, FACHE, CEO of Mission Regional.
“An affiliation with Prime Healthcare Foundation is a wonderful
opportunity to continue our healing mission as part of a larger presence
in south Texas.
In addition, it provides the support, expertise and resources of a national
partner equally committed to quality care and superior customer service.
This transition will be a seamless process for patients, their families,
our employees, nurses and physicians.”
The proposed transaction will be subject to satisfactory completion of
due diligence and governance and regulatory approvals.
About Mission Regional Medical Center: Mission Regional Medical Center is a 297-bed, non-profit hospital that
provides inpatient and outpatient hospital services to the people of the
Rio Grande Valley. Rated one of the top hospitals in the country for clinical
excellence in many services including maternity and orthopedic care, Mission
Regional Medical Center has been offering quality healthcare, close to
home, for over 60 years. For more information visit www.missionrmc.org
About Prime Healthcare and Prime Healthcare Foundation:
Prime Healthcare is an award-winning national hospital system with 44 acute-care
hospitals providing nearly 43,500 jobs in 14 states. Fourteen of the hospitals
are members of the Prime Healthcare Foundation, a 501(c)3 public charity
with a mission of providing quality, compassionate healthcare for all.
Based in California and one of the largest hospital systems in the
country, Prime Healthcare and its hospitals have been recognized as among
the “100 Top Hospitals” in the nation 36 times and among the
“15 Top Health Systems” three times, and Prime Healthcare
is the only "Top 10 Health System" west of the Mississippi.
For more information, please visit www.primehealthcare.com.
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