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January 2014 Prime Healthcare Services Prime Healthcare Services is one of the largest for-profit hospital systems in the U.S. Founded by Dr. Prem Reddy, M.D., FACC, FCCP. Began by rescuing Desert Valley Hospital and Desert Valley


  1. January 2014

  2. Prime Healthcare Services • Prime Healthcare Services is one of the largest for-profit hospital systems in the U.S. – Founded by Dr. Prem Reddy, M.D., FACC, FCCP. – Began by rescuing Desert Valley Hospital and Desert Valley Medical Group in Victorville from bankruptcy. – Specializes in saving failing hospitals from bankruptcy – saving hospitals, saving jobs, saving lives. – Largest for-profit operator of hospitals in the state of California based on number of facilities – Recent diversification into Pennsylvania, Kansas, Nevada and Texas; acquisitions pending in Michigan, New Jersey and Rhode Island. • Hospitals provide full range of both inpatient and outpatient including general acute care services, emergency room, general and specialty surgery, intensive/critical care, obstetrics, behavioral health, rehabilitation and diagnostic services. • Prime Healthcare hospitals are known for always keeping their emergency rooms open, rarely requiring patients diversion to other hospitals. • Operates 25 acute care hospitals (includes 6 managed by the non-profit Prime Healthcare Services Foundation) with 5.2 thousand licensed beds and more than 30,000 employees; facilities are located in the following states – California: 14 – Texas: 4 – Kansas: 2 – Pennsylvania: 2 – Rhode Island: 2 – Nevada: 1 2

  3. Dr. Prem Reddy, Chairman of the Board, President, and CEO Prem Reddy, MD, FACC, FCCP Dr. Prem Reddy is double Board-Certified in Internal Medicine and Cardiology. During his 25 years of practice in California, he performed more than 5,000 cardiac procedures, including coronary angiography and angioplasty and permanent pacemaker implantations. In 2001, Dr. Reddy founded Prime Healthcare Services, which owns and operates 19 hospitals. Among the many accolades, Prime Healthcare was recognized as one of the “15 Top Health Systems” in the nation in 2013. This was the third time in five years Prime Healthcare has been recognized. In addition, since 2003, 21 Prime Healthcare hospitals have been recognized among the “100 Top Hospitals” in the nation. Dr. Reddy also founded and has been the sole contributor to the Prime Healthcare Foundation, a 501(c)(3) nonprofit public charity that owns six non-profit hospitals. Combined, Prime Healthcare Services and Prime Healthcare Foundation have hospitals in six states: California, Kansas, Nevada, Pennsylvania, Rhode Island and Texas. In addition, he and his family founded the Dr. Prem Reddy Family Foundation, a nonprofit foundation that has donated millions toward charities, including college scholarships, public healthcare education and free community clinics. Both foundations combined have assets in excess of $700 million, all donated by Dr. Reddy and his family. Dr. Reddy has been named as one of the 50 Most Influential Physician Executives in health care by Modern Healthcare, the fourth time in six years. 3 3

  4. Prime Healthcare Affiliated Foundations Dr. Prem Reddy Family Foundation, 501(c)3, Est. 1989 • Dr. Reddy recently donated $500,000 to Cal State San Bernardino and its department of nursing. To recognize his gift, the nursing lab will be renamed the Dr. Prem Reddy Nursing Laboratory. • The Dr. Prem Reddy School of Health Sciences at Victor Valley Community College. • Public Health Library. • Awards scholarships for students entering the field of healthcare, including the Dr. Prem Reddy Academic Excellence Scholarship. • Supports free community clinics. • Provides grants and support for community education, public projects and to other non-profit organizations. The Prime Healthcare Services Foundation, 501(c)3, nonprofit public charity, Est. 2008 • Includes five non-profit hospitals donated debt free to the Foundation: – Encino Hospital Medical Center – Huntington Beach Hospital – Montclair Hospital Medical Center – Pampa Regional Medical Center – Sherman Oaks Hospital • Knapp Medical Center acquired directly by the Foundation in 2013 Both foundations, founded and funded by Dr. Reddy and his family, have combined assets of more than $700 million. 4

  5. Company History: Long Term Track Record of Facility Growth • Recent expansion focused on diversifying outside CA and into TX, PA, NV, KS, and RI • Signed purchase agreements in NJ with LOIs in CA and MI Prime Healthcare Hospitals Donated Hospitals 30 6 25 6 20 4 15 3 2 24 10 19 16 13 12 12 9 13 5 7 2 1 0 2001 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E Acquired Desert Valley Chino Valley Sherman Paradise Encino Alvarado Harlingen (TX) Roxborough St. John (KS) St. Mary’s (NJ) - Oaks Valley (PA) APA Garden Grove Providence (KS) Montclair Centinela St. Mary’s St. Michaels (NJ) Shasta Landmark (RI) (NV) – APA Huntington San Dimas Rehabilitation Beach Lower Bucks St. Clare’s Health Hospital of RI (PA) System (NJ) – La Palma (RI) APA Dallas (TX) West Anaheim 3 Hospitals Pampa (TX) Donated Encino Montclair Sherman Huntington Knapp (TX) – Oaks Beach acquired by Foundation Pampa Regional (TX) 5

  6. Prime Healthcare Today: Strong, Growing, and Diversified Acute Care Footprint Facility Locations Facility Characteristics Number of Shasta Regional Medical Center No. occupied licensed Acquisition Saint Mary's Regional Medical Center Hospitals beds beds date Dallas Medical Center Roxborough Memorial Hospital 1. Desert Valley Hospital 148 148 6/1/01 Lower Bucks 2. Chino Valley Medical Center 70 126 9/1/05 Hospital 3. La Palma 75 141 10/1/06 4. West Anaheim 110 219 10/1/06 5. Paradise Valley 195 291 3/1/07 Landmark Pennsylvania 6. Centinela Hospital Medical Center 220 369 11/1/07 Medical St. John Medical Center Nevada 7. Garden Grove 85 167 7/1/08 Center 8. San Dimas 101 101 7/1/08 Kansas California Providence Medical Center 9. Shasta 120 246 11/1/08 Rehabilitation 10. Alvarado 120 306 11/17/10 Hospital California totals 1,244 2,114 of Rhode 16. St. John Hospital 70 80 04/01/13 Island Texas 17. Providence Medical Center 120 400 04/01/13 Kansas totals 190 480 Pampa Regional 14. Roxborough 80 140 02/22/12 Harlingen Medical Center Medical Center 15. Lower Bucks Hospital 85 138 10/02/12 Knapp Medical Center Pennsylvania totals 165 278 La Palma Intercommunity Hospital San Dimas Community Hospital 11. Landmark Medical Center 140 214 12/31/13 Encino Hospital Medical Center Desert Valley Hospital 12. Rehabilitation Hospital of Rhode Island 20 82 12/31/13 Montclair Hospital Rhode Island totals 160 296 Medical Center 11. Harlingen Medical Center 80 112 12/1/11 12. Dallas Medical Center 50 150 9/26/12 Texas totals 130 262 Sherman Oaks Hospital 18. St. Mary's 200 380 07/01/12 Nevada totals 200 380 Centinela Hospital Medical Center Prime Healthcare consolidated 2,446 4,391 12/31/2013 Chino Valley Medical Center totals West Anaheim Medical Center Garden Grove Hospital 19. Sherman Oaks Hospital 85 153 3/1/06 Medical Center 20. Montclair Hospital Medical Center 102 102 7/1/06 Huntington Beach Hospital 21. Huntington Beach Hospital 100 131 10/1/06 Alvarado Hospital Medical Center Paradise Valley Hospital 22. Encino Hospital Medical Center 80 150 6/1/08 23. Pampa Regional Medical Center 30 115 6/1/12 25. Knapp Medical Center 120 226 1/2/13 Prime Healthcare Foundation 517 877 12/31/13 consolidated totals 6

  7. Recognized Quality Healthcare Provider Prime Healthcare Services has been recognized by Truven Health Analytics (formerly Thomson Reuters) as one of the “Top 15 Health Systems” in the U.S. based on clinical performance • Prime Healthcare named as a Top 15 Health System in 2012 and 2013 based on quality of care, efficiency and patient satisfaction by Truven Health Analytics (formerly Thomson Reuters) – Also ranked in the Top 10 in 2009 – Only for profit health system named in the Top 15 in the nation in 2013 • Eight Prime Healthcare hospitals named 100 Top Hospitals in the nation by Truven Health Analytics (formerly Thomson Reuters) in 2013. Prime Healthcare hospitals have been ranked among the top 100 hospitals 21 times. • Key criteria evaluated: – Mortality rates – Medical complications – Medicare core measures (quality measures) and patient safety standards – Risk-adjusted length of stay – Patients satisfaction 7

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