Entrepreneur
A Meteoric Rise in the Business World
Dr. Prem Reddy is the founder, Chairman, and CEO of
Prime Healthcare 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. 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., with locations in 11 states.
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 community
hospital to serve the needs of High Desert residents. This led him to build
Desert Valley Hospital in 1994. Desert Valley Hospital received accreditation with commendation
in its first year of operation for the high quality of services. Today,
Desert Valley Hospital is the flagship hospital for Dr. Reddy's California-based,
award winning Prime Healthcare network of hospitals and outpatient locations
across the country, and its hospitals have been recognized as
“100 Top Hospitals” in the nation more than 65 times. Prime Healthcare has been recognized as a
"Top 15 Health System" in the nation by Truven health Analytics (formerly Thompson Reuters) three
times based on quality of care measures.
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 launching a mission to save and transform struggling
hospitals across the country. Prime Healthcare's motto is "Saving
Hospitals, Saving Jobs, Saving Lives" which the company continues
to do as it
grows.
Dr. Reddy has been consistently named among the top healthcare leaders
in the nation for his visionary leadership and charitable giving. Among
his accolades include the “100 Most Influential People in Healthcare,”
the “50 Most Powerful Physician Executives,” the “Top
20 Minority Executives in Health Care” and more. Accounting giant
Ernst and Young has named Dr. Reddy an "Entrepreneur of the Year."
Similar prestigious awards have been bestowed upon him by Inc. Magazine
and Merrill Lynch Financial Company. Other distinctions include a Lifetime
Achievement Award from Inland Empire's Business Press in recognition
of Dr. Reddy’s outstanding leadership and his impact on the quality
of life in the Inland Empire region of Southern California. He also received
the Distinguished Citizen Award from the Boy Scouts of America, a Lifetime
Member Award from the California Highway Patrol Foundation, the Boys &
Girls Club of Greater San Diego Golden Achievement Award, and so much more.
Read Dr. Reddy's bio
here.