Chairman, Chief Executive and President
Prime Healthcare received final approval to complete its $350 million-plus acquisition of
St. Francis Medical Center in Lynwood from bankrupt Verity Health System of California Inc. In July,
six Prime Healthcare hospitals, including Sherman Oaks Hospital, made
IBM Watson Health’s list of the nation’s top 100 hospitals
for clinical quality.
Dr. Prem Reddy is a cardiologist who founded Prime Healthcare in 2001 with
a mission to buy hospitals in financial distress and improve their financial
condition so they could keep their doors open and continue to treat patients.
Headquartered in Ontario, the company has grown to 46 hospitals in 14
states &emdash; including six in Los Angeles County &emdash, and
has become the fifth-largest for-profit health system in the nation.
Dr. Prem Reddy this year serves as the board chairman of the American Federation of Hospitals;
the federation’s top goal this year is to secure more federal aid
for hospitals that have had to deal with the Covid crisis.
Return to the 2021 edition of the LA500.