Mergers & Acquisitions
Mar. 13, 2015
Failed health care purchase leaves nonprofit in dire straits
Prime Healthcare Services' reversal on buying the Daughters of Charity Health Service has left the Bay Area nonprofit seeking a new buyer. Prime officials nixed the deal this week, citing overly burdensome conditions from the state.
Daily Journal Staff Writer
The decision by Prime Healthcare Services to pass on buying the cash-strapped Daughters of Charity Health System has left the non-profit hospital chain in troubled financial waters.
The $843 million acquisition fell apart early this week after Attorney General Kamala Harris tacked hundreds of stipulations onto the deal late last month. Prime's general counsel, Troy Schell, cited this long list as ...
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