California-based Prime Healthcare Foundation, an affiliate of Prime Healthcare, is acquiring Mission Regional Medical Center in Mission, Texas, the Foundation announced this week. Financial terms of the deal were not disclosed.
The agreement includes a commitment from the Foundation to maintain the 297-bed community hospital as an acute care hospital, and to strengthen its physician recruitment. Prime Healthcare Foundation has also committed to investing millions in capital in the hospital over the next five years.
Mission Regional Medical Center is the latest hospital in the Foundation's Texas hub, which includes Knapp Medical Center in nearby Weslaco, and Harlingen Medical Center in Harlingen. The Foundation includes 12 of the 44 hospitals in the broader Prime Healthcare network.
Mission Regional Medical Center is five-star rated for maternity care and is ranked in the top 10 percent in the nation for joint replacement.
The acquisition of the hospital is expected to close July 1.