- Prem Reddy, MD, founded Prime Healthcare in 2001 with a mission to save
hospitals, save jobs and save lives. Prime Healthcare has expanded to
45 hospitals in 14 states with more than 50,000 employees and physicians
- With a career of distinguished service, Dr. Reddy has been continuously
recognized nationally for his visionary leadership and philanthropic endeavors
(ONTARIO, CALIF – June 15, 2021) – Dr. Prem Reddy, Chairman,
President, and CEO of
Prime Healthcare, has once again been named among the
LA500 by the Los Angeles Business Journal, an annual list of the most influential leaders and executives in Los
Angeles who demonstrate “driving innovation, creativity, community,
and industry.” It marks the second year in a row that Dr. Reddy
has received the prized recognition.
The LA500 showcases the 500 most powerful executives, trendsetters, and
thought leaders who drive economic growth in Southern California. Los
Angeles Business Journal publisher Josh Schimmels writes that given the
recent pandemic, the “2021 class of the LA500 was faced with challenges
over the past year that many may never have to address again — at
least not to the same extent. It was a year of difficulty, tragedy, optimism,
and achievement.”
In its recognition of Dr. Reddy, the magazine noted that Prime Healthcare
was founded 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.”
“In the face of tremendous challenges, Dr. Reddy and Prime Healthcare
rescued our community hospital, Centinela Hospital Medical Center, from
closure in 2007, have invested well over $100 million into the facility
since then and converted it into one of the top hospitals in Southern
California,” said Inglewood Mayor James Butts, noting that more
recently, Prime Healthcare and Dr. Reddy rescued nearby St. Francis Medical
Center in Lynwood, a key trauma center serving the Southeast Los Angeles
Community. “Under Dr. Reddy’s leadership, the staff at both
St. Francis and Centinela have gone above and beyond in keeping the doors
open and providing life-saving treatment to the people of Los Angeles
County throughout the pandemic, providing COVID vaccinations to thousands
of community members, including first responders.”
Prime’s acquisition of St. Francis Medical Center last August, a
historic acquisition that occurred in the midst of the pandemic, rescued
the safety net hospital from bankruptcy and ensured the underserved community
in Lynwood, California, didn’t lose its only hospital during its
time of greatest need. In addition to saving the hospital from closure,
Prime has already modernized St. Francis with more than $12 million in
new systems and technology while preserving its mission of providing exceptional
quality care for one of the most impacted communities in California.
A physician, entrepreneur, and philanthropist, Dr. Reddy’s life work
has been to not only save failing hospitals but to give back directly
to the community, gifting hundreds of millions of dollars locally and
globally to causes related to healthcare, education, and caring for others.
Born in a village in India, Dr. Reddy and Prime Healthcare recently provided
life-saving humanitarian aid to hospitals in India struggling to serve
COVID-19 patients. “The current surge in India represents a humanitarian
crisis that we must all come together to address. The surge is putting
incredible demands on the hospitals and healthcare system,” said
Reddy. “Many have been impacted in India and our hearts are with
them. In the U.S., we have seen the incredible impact of our work in saving
and changing lives and we hope our relief efforts will do the same in
India.”
In addition to his visionary healthcare leadership, Dr. Reddy fulfilled
a lifelong dream with the founding of one of California’s newest
medical schools, the California University of Science and Medicine (CUSM),
located in San Bernardino County. The university includes a School of
Medicine and a Master's degree program with a mission to inspire,
motivate and empower future physicians and leaders to serve underserved areas.
“Dr. Prem Reddy recognized the need to address the acute shortage
of physicians through innovative medical education programs, research,
and training,” said Paul Lyons, President, and Dean of CUSM. “The
physician shortage has had very real consequences on the health of residents
in underserved communities. Dr. Reddy’s leadership has been inspirational
and instrumental in addressing these needs.”
Through the Dr. Prem Reddy Family Foundation, Dr. Reddy and his family
have donated millions to various charities supporting health education,
college scholarships, public healthcare education, and free community
clinics. To date, the foundation has awarded more than $1.4 million in
academic scholarships to deserving High Desert residents, providing life-changing
opportunities to a generation of future caregivers.
Throughout his career, Dr. Reddy has been named by Modern Healthcare as
one of the “50 Most Influential Physician Executives” in healthcare
nine times, the “25 Top Minority Executives in Healthcare”
multiple times, and is consistently listed among the “Top 100 Physician
Leaders to Know” and “Top 100 Most Influential People in Healthcare.”
Dr. Reddy currently serves as Chairman of the Board of the Federation
of American Hospitals (FAH), the national representative of more than
1,000 tax-paying community hospitals and health systems throughout the
United States.