Turnaround specialist to buy Southern Regional Medical Center

Southern Regional Medical Center (Handout photo)

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Southern Regional Medical Center (Handout photo)

A hospital-management firm that specializes in rescuing financially-ailing hospitals intends to buy Southern Regional Medical Center, The Atlanta Journal-Constitution has learned.

Prime Healthcare Services has sent a letter of intent to hospital board as well as the Clayton County Board of Commissioners to acquire the assets of the 331-bed Riverdale hospital, which has posted financial losses since 2007, due in large part, to an influx of uninsured patients.

Tuesday night, commissioners signed a letter of intent turning the hospital’s county-owned property over to the hospital authority, which will sell the hospital and grounds to Prime Healthcare, Chairman Jeff Turner told The Atlanta Journal-Constitution Wednesday.

“I’m glad Prime Health Care intends to buy,” Turner said. “They felt the community needed a hospital and they were in a position to help.”

County voters last year agreed to a $50 million bailout as part of a Special Local Option Sales Tax package and this year the county has given money to help the hospital, which was weeks away from closing had it not gotten a buyer.

Prime Healthcare has saved 34 hospitals and 35,000 jobs in 10 states, according to its website. It is the largest “minority-owned” hospital system in America, the website also noted.