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[UPDATED] Prime Healthcare Successfully Completes Historic Acquisition of St. Francis Medical Center

Ontario, CA, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Prime Healthcare announced yesterday that it has successfully completed the acquisition of St. Francis Medical Center, signaling a new era of service excellence and award-winning healthcare for an essential medical facility in Los Angeles County.A A AUGUST 14 UPDATE:Prime and the Attorney General in partnership have entered into an agreement regarding the St Francis Medical Center AG conditions, which was approved by the Court today. Prime agreed to additional conditions beyond those agreed to in the APA in partnership with the AG, to benefit patients and communities, including historic charity care policies that benefit more patients in need and over $65.6 million in charity care and community benefits.Specifically, Prime has committed to increase its annual charity care commitment from $8 Million to $9.35 Million (increase of $1.35 Million per year times 6 equals $8.1 Million) and increase its annual community benefit commitment from $1,139,301 to $1,597,077. This is a total commitment of $56.1 Million in charity care and $9,582,462 in community benefit services over the six-year term of the conditions.Prime agreed to adopt one of the most generous charity care policies in the State, with charity care eligibility going up to 400% of the federal poverty level and discounted care eligibility up to 600% of the federal poverty level.A  This is in addition to $9.35 Million in annual charity care, which exceeds the amount of charity care provided by St Francis in FY 2019 which was $6.75 Million.
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