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Prime Healthcare Services, Inc. Announces Closing of $225 Million Add-on Senior Secured Notes ...


Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Prime Healthcare Services, Inc. Announces Closing of $225 Million Add-on Senior Secured Notes .
Prime HealthcareMay 3, 2021 GMT
Ontario, Calif., May 03, 2021 (GLOBE NEWSWIRE) Prime Healthcare Services, Inc. (Prime), an award-winning national health system with 31 hospitals, announced that it has closed its public offering of $225 million Add-on senior secured credit notes - above the initial offering amount of $150 million due to overwhelming demand by investors.
Prime Healthcare, one of the nation’s leading health systems with 46 hospitals in 14 states, stands apart from other health systems by its unique ability to save and transform hospitals and deliver award-winning, value-based care for the communities they serve. ....

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A hospital chain said our article was inaccurate. It's not. - Lookout Local Santa Cruz


This story was originally published by Lookout content partner, ProPublica.
On Sept. 30, we published an article examining how Prospect Medical Holdings, a hospital chain, and Leonard Green & Partners, its private equity owner, had extracted hundreds of millions of dollars in profits for investors while patients served by their hospitals suffered from a litany of problems.
The article reported that on 14 occasions over a decade, government health inspectors had concluded that Prospect hospitals posed an “immediate jeopardy” to patients, defined by the federal government as problems that have caused, or are likely to cause, “serious injury, harm, impairment or death.” Other pervasive problems included everything from bedbugs and ceiling leaks in hospital buildings, to unpaid gas bills for company ambulances to shortages of medical supplies. ....

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