December 5, 2012 – Prime Healthcare Services said it signed a nonbinding letter of intent to acquire St. Michael’s Medical Center, a 271-bed hospital in Newark, N.J., that is part of Catholic Health East. The deal is the latest in a string of acquisitions that Prime has made as the privately owned for-profit health system seeks to expand nationally. Financial terms of the transaction will not be released until a definitive agreement is reached, a Prime Healthcare spokesman said. The deal is expected to close in early 2013.
Link to Full Article: http://www.modernhealthcare.com/article/20121205/NEWS/312059959/