Description
Province Healthcare Company was founded in February 1996 as Principal Hospital Company by Chicago-based equity investment firm Golder, Thoma, Cressey, Rauner, Inc. (GTCR) and Martin S. Rash to acquire and develop a nationwide system of hospitals in non-urban markets. The company saw the opportunity to consolidate non-urban healthcare across the country and improve the quality and types of healthcare services available in many communities.
February 1996, the company is founded by Martin S. Rash and GTCR. July 1996, acquires first hospital, Memorial Mother Frances Hospital in Palestine, TX. October 1996, acquires Starke Memorial Hospital in Knox, IN. December 1996, merges with Brim, Inc., creating a new hospital management operation. Brim owned or leased five hospitals and managed about 50. August 1997, company acquires Needles Desert Communities Hospital in Needles, CA. February 1998, company makes their initial public offering, and changes its name to Province Healthcare Company. May 1998, acquires Havasu Regional Medical Center in Lake Havasu City, AZ. May 1998, Martin S. Rash is named Chairman of the Board of Province Healthcare. June 1998, acquires Elko General Hospital in Elko, NV. July 1998, company completes secondary public offering. February 1999, acquires Eunice Community Medical Center in Eunice, LA. April 1999, acquires Glades General Hospital in Belle Glade, FL. June 1999, acquires Doctors Hospital of Opelousas in Opelousas, LA. October 1999, acquires Trinity Valley Medical Center in Palestine, TX and Minden Medical Center in Minden, LA. February 2000, acquires Ennis Regional Medical Center in Ennis, TX. April 2000, acquires Bolivar Medical Center in Cleveland, MS. July 2001, acquires Selma Regional Medical Center in Selma, AL. August 2001, acquires Ashland Regional Medical Center in Ashland, PA. October 2001, acquires Vaughan Regional Medical Center in Selma, AL and The Medical Center of Southern Indiana in Charlestown, IN. December 2001, acquires Lakewood Medical Center in Morgan City, LA. May 2002, acquires Memorial Hospital of Martinsville and Henry County in Martinsville, VA. June 2002, acquires Los Alamos Medical Center in Los Alamos, NM. October 2003, announces construction of Coastal Carolina Medical Center in Hardeeville, SC., to open late 2004. May, 2004 anounces construction of Valley View Medical Center in Ft. Mohave, AZ to open mid 2005
June, 2004 acquires Memorial Medical Center in Las Cruces, NM
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