SCHS and CHI Sign Asset Purchase Agreement with Prime Healthcare Services -

SCHS and CHI Sign Asset Purchase Agreement with Prime Healthcare Services

Publish date:

Saint Clare's Health System (SCHS) and Catholic Health Initiatives (CHI) have signed an asset purchase agreement with Prime Healthcare Services.

The APA signing followed the CHI Board of Stewardship Trustees acceptance of the unanimous recommendation of the Saint Clare's Board for CHI to sell the health system to Prime Healthcare.

The Saint Clare's Board and CHI decided to seek a new owner for SCHS to better meet the needs of the communities it serves in a changing health care environment. The Saint Clare's Board recognized that as health care reform continues to evolve, it is critical for health providers to be part of a broad network of coordinated health care organizations including health providers, payers and other related health entities.

CHI and Saint Clare's selected Prime Healthcare after a thorough evaluation of strategic alternatives and discussions with Catholic, not-for-profit and for-profit health care organizations that expressed interest in Saint Clare's.

Prime Healthcare has agreed to acquire all SCHS assets with the exception of the Saint Clare's Foundation and intends to hire all Saint Clare's employees. In addition, Prime Healthcare plans to continue to provide charity care services based on the existing charity care policies currently in place.

The transaction is expected to be completed by late summer or early fall subject to approvals from federal, state and Church authorities. Until the transaction closes, SCHS and CHI will continue to operate the facility. After the transaction closes, Prime Healthcare will take over all hospital operations. Additional details of the asset purchase agreement are subject to the confidentiality agreement.


Wilson Electronics and AiN Group Sign Agreement

Wilson Electronics, manufacturer of cellular signal boosters, has signed an agreement with the Authorized Integrators Network (AiN) Group of GE Home & Security Technologies dealers serving the residential and commercial building industry.

NSCA and USAV Group Sign Agreement

CEDAR RAPIDS, IA--The National Systems Contractors Association (NSCA) and USAV Group have announced an endorsement agreement involving NSCA’s Business & Leadership Conference and NSCA membership. The endorsement package provides opportunities for USAV Group members to take advantage of special discounts on both me

RHC Holding Purchases Proco Sound

Jackon, MO--RHC Holding Corp, in conjunction with their financial partners, Midwest Mezzanine Funds and Bush O’Donnell, announced that they have signed a definitive sale agreement as of November 19, 2010 for the asset purchase of ProCo Sound, Inc. ProCo Sound, a Michigan-based Corporation founded in 1974, designs and

Image placeholder title

Healthcare Messaging Group and Samsung Smart Signage

The Healthcare Messaging Group, a digital signage service provider for the NHS, is one of the first companies in the UK to switch to Samsung’s Smart Signage Platform, powered by Signagelive. Signagelive has configured its technology to integrate with Samsung’s Smart Signage Display range. The company’s new System on Chip (SoC) software is written in HTML5 and replicates the functionality of its PC-based software. The new software version is enabling The Healthcare Messaging Group to provide NHS hospitals with digital signage capabilities at a competitive price and without needing to install any onsite hardware.