August 21, 2014 12:32 PM ET

Healthcare Providers and Services

Company Overview of Prospect Medical Holdings, Inc.

Company Overview

Prospect Medical Holdings, Inc. provides healthcare and physician services in Southern California. It owns and operates community-based hospitals in Los Angeles; and manages the provision of healthcare services to health maintenance organizations enrollees through its network of specialist and primary care physicians. Prospect Medical Holdings, Inc. was incorporated in 1993 and is based in Santa Ana, California. The company has subsidiaries in Santa Ana, Los Angeles, Ontario, and Culver City, California.

1920 East 17th Street

Suite 200

Santa Ana, CA 92705

United States

Founded in 1993





Key Executives for Prospect Medical Holdings, Inc.

Chairman of the Board
Age: 47
Chief Financial Officer
Chief Medical Officer of Prospect Medical Systems and Chief Executive Officer of Prospect Medical Systems
Director and President of Promed Health Services Subsidary
Age: 66
President of Alta Hospitals System
Compensation as of Fiscal Year 2014.

Prospect Medical Holdings, Inc. Key Developments

Prospect CharterCARE Mulls Acquisitions

Prospect CharterCARE, a joint venture entity formed by Chartercare Health Partners and Prospect Medical Holdings, Inc., is seeking acquisitions. Prospect CharterCARE will develop, through acquisitions and partnerships.

CharterCARE Health Partners and Prospect Medical Holdings Forms a New Joint Venture Company

CharterCARE Health Partners and Prospect Medical Holdings, Inc. announced that they have launched an partnership offering a new way forward for Rhode Island health care. The new joint venture took effect June 20, 2014. Prospect CharterCARE, LLC, the new joint venture company, which is doing business as CharterCARE Health Partners, is jointly owned by Prospect and CharterCARE. The company operates Roger Williams Medical Center, Fatima Hospital, St. Joseph Health Center and Elmhurst Extended Care, and will develop, through acquisitions and partnerships, a coordinated regional health network that will include physician practices, urgent care centers, nursing homes and ancillary health providers such as diagnostic labs. Prospect will provide an immediate infusion of capital which will be used to retire the two hospitals' long-term debt and invest in the facilities and equipment, as well as support development of the new network.

Rhode Island Department of Health Approves Prospect-CharterCARE Joint-Venture

The Rhode Island Department of Health has approved the hospital conversion and change in effective control applications of Prospect Medical Holdings and CharterCARE to establish a joint venture to be called Prospect CharterCARE, LLC that will own Roger Williams Medical Center, St. Joseph Health Services of Rhode Island d/b/a Our Lady of Fatima Hospital and related healthcare facilities. Each of these facilities will be converted from not-for-profit to for-profit statuses. Approval and implementation of these applications will result in the issuance of new hospital licenses to Prospect CharterCARE RWMC, LLC and Prospect CharterCARE SJHSRI, LLC; issuance of a new nursing home license to Prospect CharterCARE Elmhurst, LLC; the issuance of a new organized ambulatory care facility license to CharterCARE RWMC, LLC d/b/a Roger Williams Sleep Disorders Center; and the issuance of a new home nursing care provider license to Prospect CharterCARE RWMC, LLC d/b/a CharterCARE Home Health Services.

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