Contact: Rachel Hogue
La Palma Intercommunity Hospital Converts to Not-for-Profit Facility
(LA PALMA, JANUARY 14, 2015) – Prime Healthcare Services today announced
that it has donated La Palma Intercommunity Hospital, an award-winning
141-bed acute care hospital located in La Palma, California to the Prime
Healthcare Foundation, a 501(c)(3) not-for-profit public charity, as of
Jan. 1 and free of any existing debt.
The move will allow La Palma Intercommunity Hospital to broaden its reach
in the community and continue to serve its needs.
"Prime Healthcare has always been committed to the communities it
serves," said Prem Reddy, M.D., FACC, FCCP, Chairman, President and
CEO of Prime Healthcare Services and Founder of the Foundation. "The
decision to convert La Palma Intercommunity Hospital to a not-for-profit
hospital was based on our desire to better serve the residents and the
surrounding communities who rely on the hospital for quality health care."
La Palma Intercommunity Hospital has recently been named one of the nation's
100 Top Hospitals® by Truven Health AnalyticsTM, a leading provider of information and solutions to improve the cost and
quality of healthcare. The hospital was also listed as a Top Performer
on Key Quality Measures by the Joint Commission for the fourth year, one
of only 147 hospitals nationwide that achieved this distinction four years in a row.
"This is about providing our residents with the best medical care,"
said Sami Shoukair, M.D., Chief Medical Officer at La Palma Intercommunity
Hospital. "With our patient-centered, physician-led model, we will
continue our mission to offer compassionate and high quality healthcare
to our community."
"All of us at La Palma Intercommunity Hospital look forward to operating
as a non-profit subsidiary of the Prime Healthcare Foundation and continuing
to provide excellent care to all members of the community," said
Virg Narbutas, CEO of La Palma Intercommunity Hospital.
The Prime Healthcare Foundation, founded by Dr. Reddy and his Family in
2008, is dedicated to improving access to healthcare and increasing educational
opportunities in healthcare. The Foundation has donated millions of dollars
to support free community clinics, nonprofit organizations, scholarships
and academic programs in healthcare.
The Foundation owns and operates seven hospitals in California and Texas.
They were acquired in bankruptcy or near bankruptcy, donated to the Foundation,
debt free and now are successful community assets. The Foundation maintains
net assets of over $800 million dollars, entirely donated by Dr. Reddy.
With an initial contribution of $40 million, The Foundation is also supporting
a new not-for-profit medical school, the California University of Science
and Medicine in San Bernardino County.