The Daughters of Charity Health System on Friday morning announced the sale of O’Connor Hospital and its other medical facilities to Prime Healthcare Services according to multiple sources.
As part of the deal, Prime Healthcare Services will also buy Saint Louise Regional Hospital in Gilroy, Seton Hospital in Daly City and Seton Coastside in Moss Beach and two more hospitals in Southern California.
In a written statement, the Daughters of Charity said the sale to Prime came “after a thorough and rigorous review process.” The sale was approved by the system’s board Friday. Approval by the Vatican is pending.
“In selecting candidates to take over the hospitals, our priority was to seek the best buyer who could guide our hospitals into a successful future while honoring the obligations to our associates, retirees and other constituents,” Issai said in a press release. “Prime Healthcare’s bid was superior to all others, and we are excited by today’s announcement. Prime’s selection ensures that our communities will have access to high-quality health care for years to come, that pension plans for our employees will be funded and investments will be made in our facilities.”
Key points of interest…
- Prime Healthcare is committed to maintaining each of the DCHS hospitals in the communities they serve, including emergency rooms and trauma centers;
- Prime Healthcare is committed to spending at least $150 million in capital improvements at the DCHS hospitals over the next three years;
- Prime Healthcare is committed to maintaining DCHS charity care policies and funding a pastoral care program;
- Prime Healthcare will assume existing union contracts