Prime Healthcare Foundation, a not-for-profit hospital system, closed a $160 million senior secured credit facility led by BBVA Compass.

The facility, which may be expanded in the future through a $50 million accordion feature, will be used to fund acquisitions and support operations.

Other lenders included Citizens Bank, City National Bank, Northern Trust and United Missouri Bank.

“We appreciate the support of our lending partners to further the mission of the Prime Healthcare Foundation, which is dedicated to providing compassionate, quality healthcare to communities across the country,” said Kavitha Reddy Bhatia, MD, chair of the Prime Healthcare Foundation. “This financing will strengthen our position and allow for continued growth.”

“Prime Healthcare Foundation has shown strong leadership in the healthcare industry through their ability to turn around struggling hospitals in a constantly changing environment,” said Jason Consoli, senior vice president for BBVA. “We are extremely pleased to complete this financing and expand our relationship with the foundation.”