A Meteoric Rise in the Business World
Dr. Reddy is the founder, Chairman, and CEO of Prime Healthcare Services, and founder of the
Prime Healthcare Foundation and the
Prem Reddy Family Foundation, formerly the Desert Valley Charitable Foundation.
It was in the early 1980s that Dr. Reddy's exceptional business acumen became apparent when he created health care entities at a time when physicians were being squeezed by managed care organizations. Seeing the trends and needs in the field, he formed Desert Valley Medical Group in 1985, then founded Primecare Medical Group Network in 1992, a physician practice management company, that was later sold to Phycor in 1998.
The Inland Empire's High Desert region of Southern California was growing rapidly during the early 1990s and Dr. Reddy saw the need for a first-class hospital. This led him to build Desert Valley Hospital in 1994. Desert Valley Hospital received unprecedented accreditation with commendation in its first year of operation for the high quality of services. Quality patient care was always a prerequisite for his endeavors and today, Desert Valley Hospital is the flagship hospital for Dr. Reddy's California-based, top-rated Prime Healthcare Services network, and has been recognized as a
Top 100 Hospital in the Nation on numerous occasions.
Dr. Reddy sold Desert Valley Hospital for a time while he pursued other ventures before re-purchasing the then-flailing hospital, rescuing it from bankruptcy and discovering a mission in saving failing hospitals. Prime Healthcare's motto is "Saving Hospitals, Saving Jobs, Saving Lives" which the company continues to do as it grows. Prime Healthcare Services has been recognized as a "Top 15 Health System" in the nation by Truven (formerly Thompson Reuters) three times in the past five years based on quality of care measures and Prime Healthcare Hospitals are consistently ranked in the
top in the nation.
Dr. Reddy also founded PrimeCare International, Inc. with operations across the United States which, at its peak, served over 250,000 managed care patients and generated over $500 million in annual revenue. During 1998-2000, he founded and served as Chairman and CEO of a pharmacy managed care company, PrimeMed Pharmacy Services, Inc., headquartered in Las Vegas, NV, with locations in 11 states.
Dr. Reddy has been consistently named among the top healthcare leaders in the nation. He was listed as one of the 100 Most Influential People in Healthcare in 2015, and named one of the 50 Most Powerful Physician Executives in Health care in 2008-2009 and 2011-2016 and named among the Top 20 Minority Executives in Health Care in 2008, 2010, 2014, and 2016. Accounting giant Ernst and Young has named him an "Entrepreneur of the Year". Similar prestigious awards followed by Inc., Magazine and Merrill Lynch Financial Company. His extensive list of awards, honors and distinctions include a Lifetime Achievement Award as an Inland Empire leader of distinction from Inland Empire's Business Press in recognition of outstanding leadership and his impact on the quality of life in the Inland Empire region of Southern California, the Distinguished Citizen Award from the Boy Scouts of America, a Lifetime Member Award California Highway Patrol Foundation, Medical Honoree: American Heart Association and the United Way and the Boys & Girls Club of Greater San Diego Golden Achievement Award for 2012.