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(Ontario, CA \u2013 January 25, 2018) \u2013\u00a0Prime Healthcare Foundation<\/a>, a not-for-profit hospital system, announced the closing of $267 million in bond financing, the first-ever such financing by the Foundation. Prime Healthcare Foundation owns and operates 15 hospitals in six states and is affiliated with Prime Healthcare, one of the largest for-profit health systems in the United States.<\/p>\n Underwritten by Cain Brothers and BofA Merrill Lynch, the issuances are comprised of $133.7 million of Public Finance Authority Tax Exempt Revenue Bonds (Series 2018A) and $133.3 million of Prime Healthcare Foundation. Taxable Bonds (Series 2018B). Initial investors included many of the nation\u2019s largest bond fund investors and asset managers.<\/p>\n “We are grateful that the investor community has shown its confidence in our strength, leadership team, future vision, and ability to turn around distressed hospitals,\u201d said\u00a0Kavitha Reddy Bhatia<\/a>, MD, Chair of the Prime Healthcare Foundation. \u201cWe value the support of our financing partners in our continued growth and mission to provide vital services to patients and communities throughout the country.”<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.24.2″ background_pattern_color=”rgba(0,0,0,0.2)” background_mask_color=”#ffffff” text_text_shadow_horizontal_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength=”text_text_shadow_style,%91object Object%93″ 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header_6_text_shadow_blur_strength=”header_6_text_shadow_style,%91object Object%93″ header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ z_index_tablet=”0″]<\/p>\n \nAbout Prime Healthcare Services and Prime Healthcare Foundation:<\/strong><\/em> The mission of the Prime Healthcare Foundation is to provide quality, compassionate healthcare for all, and to serve our communities through various charitable and educational initiatives. 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 \u201c100 Top Hospitals\u201d in the nation 38 times and among the \u201c15 Top Health Systems\u201d three times. Numerous hospitals have been recognized by\u00a0The Joint Commission<\/a>\u00a0as among the “Top Performers on Key Quality Measures.\u201d For more information, please visit\u00a0www.primehealthcare.com<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"
\nOn a combined basis, Prime Healthcare and Prime Healthcare Foundation (Prime Healthcare) is an award-winning national hospital system with 45 hospitals providing nearly 43,500 jobs in 14 states.\u00a0Prime Healthcare was founded by\u00a0Dr. Prem Reddy<\/a>, a physician with a mission to save hospitals, improve community healthcare and provide the very best care to patients. Fifteen of the hospitals are members of the Prime Healthcare Foundation, a 501(c)(3) public charity, with assets of approximately $1.1 billion.<\/p>\n