Healthcare Purchases Riverview Regional Medical Center
Riverview Regional Medical Center has announced an agreement for the sale of substantially all of the assets of the 281-bed hospital and its related outpatient services to a subsidiary of Prime Healthcare Services, LLC. The purchase agreement includes a commitment from Prime to continue the employment of all employees who satisfy Prime’s employment requirements. During the first three years following the transaction close, Prime will fund at least $15 million in capital expenditures at the hospital. The agreement includes a commitment to operate as a general acute care hospital with an open and accessible emergency room for a period of at least five years following the transaction close. Until the transaction is complete, current ownership will remain in place. Financial terms of the transaction have not been disclosed.