Prime Healthcare Services has signed a definitive agreement to acquire the 88-bed Lehigh Regional Medical Center located in Lehigh Acres, Florida and related businesses, including physician clinic operations and ancillary services from subsidiaries of Community Health Systems. The sale is expected to close in the fourth quarter, pending regulatory approvals and closing conditions. The agreement includes a commitment from Prime to hire substantially all employees.
Lehigh Regional Medical Center is accredited by the Joint Commission and serves a five-county area. As the only comprehensive hospital serving the community, it is a crucial component of the healthcare safety net for the surrounding area and has a significant economic impact on the community.
"Prime Healthcare looks forward to expanding its network to Florida in an effort to continue saving hospitals, jobs and lives," said Prem Reddy, MD, FACC, FCCP, Chairman, President and CEO of Prime Healthcare Services. "The experienced team of exceptional physicians and caregivers at Lehigh Regional Medical Center would be a welcome addition and we look forward to working with them."
The transaction is subject to customary regulatory approvals. Until the transaction is complete, current ownership will remain in place. Financial terms of the transaction have not been disclosed.