Prime Healthcare Services closed a $700 million senior secured credit facility led jointly by Wells Fargo and Barclays.

The facility, which was increased from its original amount due to strong demand, is comprised of a $400 million revolving credit facility, a $200 million term loan and a $100 million accordion which will be used to strengthen Prime Healthcare and fund acquisitions.

California-based Prime Healthcare is a national hospital system with 38 acute-care hospitals providing nearly 40,000 jobs in 11 states. Eight of the hospitals are members of the Prime Healthcare Foundation, a 501(c)(3) public charity.