Prem Reddy

Chairman, Chief Executive and President

Prime Healthcare Services Inc.

THE LATEST: In April, six Prime Healthcare hospitals, including Sherman Oaks Hospital, made IBM Watson Health's list of the nation's top 100 hospitals for clinical quality. Two of Prime Healthcare's Los Angeles County hospitals were named to Becker's 2019 Hospital Review list of the 100 top community hospitals: San Dimas Community Hospital and Centinela Hospital Medical Center. In November, Prime Healthcare launched a hostile takeover bid for Palms-based hospital chain Prospect Medical Holdings Inc.; so far, Prospect has rejected the bid.

BACKGROUND: Reddy, a cardiologist, founded Prime Healthcare in 2001 with a mission to buy hospitals in financial distress and improve their financial condition so they could keep their doors open and continue to treat patients. Headquartered in Ontario, the company has grown to 45 hospitals in 14 states & including five in Los Angeles County & and become the fifth-largest for-profit health system in the nation. Prime Healthcare has never closed or sold a hospital.

YEARS ON THE LA500: 1

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