Central Maine Healthcare to be acquired by Prime Healthcare Foundation [Video]

A CALIFORNIA NON-PROFIT, PRIME HEALTHCARE FOUNDATION, PLANS TO TAKE OWNERSHIP OF CENTRAL MAINE HEALTHCARE PENDING REGULATORY APPROVAL. THIS TRANSITION WILL INCLUDE ALL THREE CENTRAL MAINE HEALTHCARE HOSPITALS, INCLUDING CENTRAL MAINE MEDICAL CENTER. THE TERMS OF THE AGREEMENT INCLUDE A COMMITTMENT BY PRIME HEALTHCARE FOUNDATION TO INVEST 150-MILLION-DOLLARS IN FACILITY IMPROVEMENTS, AND TO OFFER ALL CURRENT STAFF A POSITION

Central Maine Healthcare, a health care system that serves 400,000 people in the state, announced Wednesday that it will be acquired by a California-based nonprofit organization pending regulatory approval.According to the CMH Board of Directors, it has reached an agreement for Prime Healthcare Foundation to become the sole corporate member and parent company of Central Maine Healthcare.Under the agreement, PHF would become the owner of all CMH services and facilities, which will retain their current names and local leadership. PHF will also offer substantially all CMH team members positions at comparable wages …

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