July 21, 2020 – Prime Healthcare Services (Ontario, CA) has received conditional approval from California state Attorney General Xavier Becerra to purchase St. Francis Medical Center (Lynnwood, CA) out of bankruptcy.
It was one of six hospitals owned by Verity Health System (El Segundo, CA), which filed for bankruptcy protection in August 2018. Four of those hospitals have now received final approvals for deals. Deals for two Bay Area hospitals are still awaiting Becerra’s approval.
Prime’s bid for St. Francis was approved in April by Judge Ernest Robles with the Central District of the U.S. Bankruptcy Court in Los Angeles, CA, and totaled more than $350 million.