ECHN Board of Trustees Announces Partner Selection
On June 25, the ECHN Board of Trustees agreed to the terms of a letter of intent for ECHN to be acquired by Prospect Medical Holdings (Prospect) of Los Angeles, CA. Prospect Medical Holdings, Inc. is an innovative healthcare services company that owns and operates 13 hospitals, with a total of 2,258 licensed beds, as well as 40 clinics and outpatient centers. Prospect also manages the provision of healthcare services for approximately 257,000 members enrolled in its networks of over 8,900 primary care physicians and specialists. Prospect's hospitals are located in diverse, high-density population areas within five markets in California, Texas and Rhode Island.
The ECHN Board of Trustees and members of management have been careful and deliberate with our affiliation process. We have worked hard to consider the interests and engage all of our constituents in this process, including our patients, employees, medical staff, corporators, the communities we serve and legislative and union leadership. We believe Prospect is the best partner for our collective future.
Pending approval by the ECHN Corporators and state and federal regulatory agencies, we anticipate this process to be finalized by summer of 2016. The ECHN Board, senior management and staff will continue to lead ECHN and will remain committed to maintaining our reputation for quality care. Programs, commitments to the community, health education, the provision of specialty care and healthcare for uninsured and under-insured patients all remain a top priority for our entire organization. Our medical and nursing staffs, long noted for their dedication and professionalism, remain one of our most important assets.
We understand that you may have questions about what this acquisition will mean for ECHN and the community. This section of our website has been created to keep you informed of the latest news. Please contact us with your feedback or any questions you may have.