Firm’s hospital-buying strategy is questioned (Philadelphia Inquirer)

November 18, 2012 – From its roots in California, hospital owner Prime Healthcare Services Inc. is expanding across the country by acquiring financially troubled hospitals, including Roxborough Memorial and Lower Bucks in the Philadelphia region. At hospitals on the verge of closing, the for-profit company is generally welcome – even as disputes with a large union and a major competitor in Southern California dog the firm’s reputation. In Roxborough, where the community hospital has changed hands three times since 2003, Prime and its regional chief executive, Peter J. Adamo, have made a positive impression, Bernard Guet, executive director of the Roxborough Development Corp., said Thursday. But Prime’s ventures beyond California, where the company was founded in 2001 by entrepreneurial cardiologist Prem Reddy, to Texas and Pennsylvania puzzle Philadelphia health-care expert Alan Zuckerman.

Link to Full Article: http://articles.philly.com/2012-11-18/business/35187631_1_prime-healthcare-services-hospital-owner-prem-reddy

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