(Coshocton, Ohio – November 1, 2016) – Prime Healthcare Foundation
and Coshocton Regional Medical Center announced today that Prime Healthcare
Foundation has completed its acquisition of Coshocton County Memorial
Hospital in Coshocton, Ohio. The hospital will retain a local governing
board and not-for-profit status as a member of the Prime Healthcare Foundation,
an affiliate of Prime Healthcare. As a result of the sale, the hospital
will now be known as Coshocton Regional Medical Center.
“Prime Healthcare looks forward to working with the physicians, nurses
and employees at Coshocton Regional Medical Center to ensure the best
care and service for patients and members of the community,” said
Prem Reddy, MD, FACC, FCCP, Chairman, President and CEO of Prime Healthcare.
“Prime Healthcare is grateful to continue Coshocton’s legacy
of providing quality and compassionate healthcare, with millions of dollars
of investment over the next five years in capital equipment and infrastructure
The Prime Healthcare Foundation, a 501(c)3, non-profit public charity
dedicated to improving access to healthcare and increasing educational
opportunities in healthcare, has donated millions of dollars to save financially
distressed and bankrupt hospitals, improving their quality of care and
turning them into important community assets.
“Our hospital has a 107-year history of service to our communities,”
said Max Crown, Board of Trustees Chairman at Coshocton. “Now, as
Coshocton Regional Medical Center and a member of Prime Healthcare, we
have a renewed opportunity to prosper with a proven leader in quality
Coshocton Regional Medical Center was on the brink of closure in March,
2016. Prime Healthcare Foundation submitted a Letter of Intent to purchase
the hospital and the majority of its assets through bankruptcy court approval
in September 2016 and issued an order to proceed with the acquisition.
The Ohio Attorney General’s office also approved the transaction,
which is required for the sale of non-profit healthcare providers, after
holding a public forum on the acquisition.
Coshocton Regional Medical Center is a 56-bed acute care hospital that
The Joint Commission’s Gold Seal of Approval® for accreditation by demonstrating compliance with national standards
for health care quality and safety in hospitals. The hospital and its
team of physicians serve a population of 36,500 residents in Coshocton
County and surrounding counties in the eastern central Ohio region with
emergency, diagnostic, surgical and rehabilitation services.
“We’re excited to welcome the Coshocton team to Prime Healthcare,”
said Luis Leon, President of Operations of Prime Healthcare, Division
II. “Our mission at Prime Healthcare is to save and improve hospitals
so they can deliver compassionate, quality healthcare in their local communities.
Coshocton Regional Medical Center holds a special place in the community
and is a vibrant, committed hospital with talented staff and physicians.”
With the addition of Coshocton Regional Medical Center, Prime Healthcare
now owns and operates 44 hospitals in 14 states with nearly 43,500 employees
and physicians. Twelve of the hospitals are members of the Prime Healthcare
Foundation. Prime Healthcare hospitals are regularly recognized for high
quality care and the health system is one of the fastest growing hospital
systems in the United States.
About Coshocton Regional Medical Center: Coshocton Regional Medical Center is a 56-bed hospital in Coshocton, Ohio,
providing 24-hour emergency and acute care services with a network of
hospital-based physician clinics serving Coshocton and surrounding counties.
For more than 100 years, Coshocton Regional Medical Center has served
Eastern Central Ohio with high quality diagnostic, rehabilitation and
acute healthcare services. For more information, please visit www.CRMC.com.
About Prime Healthcare Services and Foundation:
Prime Healthcare Services is an award-winning national hospital system
with 44 hospitals providing nearly 43,500 jobs in 14 states. Twelve of
the hospitals are members of the Prime Healthcare Foundation, a 501(c)3
public charity. The mission of the Prime Healthcare Foundation is to provide
quality, compassionate healthcare for all, and serve communities through
various charitable and educational initiatives. Based in California and
one of the largesthospital systems in the
country, Prime Healthcare is committed to ensuring access to quality healthcare. It hasbeen recognized as among the “100 Top Hospitals”
in the nation 36 times and among the “15 Top HealthSystems”
three times. Numerous hospitals have been recognized by The Joint Commission as among the "Top Performers on Key Quality
For more information, please visit www.primehealthcare.com