Carondelet Health, Prime Healthcare Services Sign Agreement for Sale

(Kansas City, Mo.) October 14, 2014 – Carondelet Health in Kansas City, Mo., a part of Ascension, and Prime Healthcare Services, Inc., have signed a definitive agreement for the acquisition by Prime of the majority of the facilities of Carondelet Health. The transaction includes St. Joseph Medical Center in Kansas City and St. Mary"s Medical Center in Blue Springs, Mo, as well as other assets of Carondelet Health. The three Carondelet Health long-term care facilities – Carondelet Manor, Villa Saint Joseph and St. Mary"s Manor – and the two hospitals" charitable foundations will remain part of Ascension. “This agreement strengthens the ministry and ensures that its caring associates and physicians will be able to continue to meet the healthcare needs of the community,” said Robert J. Henkel, FACHE, Executive Vice President of Ascension and President and Chief Executive Officer of Ascension Health. “Ascension will continue to serve this community by providing senior services as part of Ascension Health Senior Care.” “Prime Healthcare understands the value these hospitals bring to their communities, and we intend to help the hospitals provide residents with the high quality healthcare they deserve,” said Prem Reddy, MD, FACC, FCCP, Chairman, President and CEO of Prime Healthcare Services. “Our motto is „Saving Hospitals, Saving Jobs, Saving Lives," and we take that responsibility seriously. We look forward to completing the process and working with the physicians, nurses and employees to ensure the best care for the patients we serve.” The transaction is subject to customary approvals. Specific terms of the agreement are confidential. About Carondelet Health Carondelet Health (www.carondelethealth.org) consists of two acute care hospitals, St. Joseph and St. Mary"s Medical Centers, with 450 beds and 900 physicians on staff combined. St. Joseph Medical Center has earned Carondelet Health, Prime Healthcare Services Sign Agreement for Sale Contacts: NICK RAGONE, Chief Communications Officer, Ascension 314.733.8941 Nick.Ragone@ascension.org Magnet Designation for excellence in nursing. Consistent with its mission, Carondelet Health provides compassionate, quality healthcare with a special concern for the poor. About Ascension Ascension (www.ascension.org) is a Catholic healthcare organization dedicated to the transformation of healthcare through excellent clinical care throughout the continuum of care and through innovation. Ascension is the nation"s largest Catholic and non-profit health system, providing the highest quality care to all with special attention to those who are poor and vulnerable. Last year, Ascension provided $1.8 billion in care of persons living in poverty and community benefit programs. Its Mission-focused Health Ministries employ more than 153,000 associates serving in more than 1,900 sites of care in 23 states and the District of Columbia. Ascension"s direct subsidiaries provide services that include healthcare delivery, medical equipment management, treasury management, resource and supply management, venture capital investing, physician practice management, and risk management. About Prime Healthcare Services Ontario, CA-based Prime Healthcare Services (www.primehealthcare.com), with a motto of “Saving Hospitals, Saving Jobs and Saving Lives,” is one of the largest hospital companies in the nation. Prime Healthcare was recognized as one of the “15 Top Health Systems” in the nation in 2013, based on quality of healthcare and patient satisfaction. It is the third time in six years it has been recognized. In 2014, eight Prime Healthcare hospitals were ranked among the “100 Top Hospitals” in the nation by Truven Health Analytics. Prime Healthcare hospitals have earned the award 27 times since 2003. Through their subsidiaries, Prime Healthcare Services and the non-profit Prime Healthcare Foundation have more than 30,000 employees and own and operate 27 hospitals in seven states: Alvarado Hospital Medical Center, Centinela Hospital Medical Center, Chino Valley Medical Center, Desert Valley Hospital, Encino Hospital Medical Center, Garden Grove Hospital Medical Center, Glendora Community Hospital, Huntington Beach Hospital, La Palma Intercommunity Hospital, Montclair Hospital Medical Center, Paradise Valley Hospital, San Dimas Community Hospital, Shasta Regional Medical Center, Sherman Oaks Hospital and West Anaheim Medical Center – in California; Providence Medical Center and Saint John Hospital – in Kansas; Garden City Hospital – in Michigan; Saint Mary"s Regional Medical Center – in Nevada; Lower Bucks Hospital and Roxborough Memorial Hospital – in Pennsylvania; Landmark Medical Center and Rehabilitation Hospital of Rhode Island – in Rhode Island; Dallas Medical Center, Harlingen Medical Center, Knapp Medical Center and Pampa Regional Medical Center – in Texas.