Health Care Industry
Industry: Email Alert RSS FeedLoma Linda buying stake in PPM firm.(Loma Linda (California) University Medical Center, physician practice management companies)
Modern Healthcare, April, 1997 by Shinkman, Ron
Loma Linda (California) University Medical Center is planning to acquire a nearly 20% interest for about $30 million in the physician practice management company PrimeCare. The deal has surprised some observers because of Loma Linda's standing as a not-for-profit academic center with international fame for transplants and PrimeCare's dubious business ethics.
A high-profile not-for-profit academic medical center is ponying up $30 million to buy a minority stake in a physician practice management company with a reputation for aggressive acquisitions.
The deal will wed Loma Linda (Calif.) University Medical Center, renowned worldwide for its transplant programs, with PrimeCare International, which intends to use the cash infusion to finance more acquisitions....
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