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Hospital chain Prime Healthcare faces a fight to grow
Hospital chain Prime Healthcare faces a fight to grow

Buried in debt, Centinela hospital of Inglewood was on the verge of bankruptcy in 2007. It had lost $50 million in four years, and local officials worried that it might close — following the path of several other South Los Angeles hospitals. But where others saw risk, cardiologist Prem Reddy saw opportunity. Reddy's company, Prime Healthcare Services Inc., bought Centinela and quickly turned it around, cutting expenses and increasing revenue. Centinela lost $63 million in 2007. Six years later, it made $39 million. Today it's rated among the better-performing hospitals in the state. The Ontario company has followed the same model over and again, growing from a single...

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