Sale saves California hospital from closing

Alia Paavola –
Monday, August 17th, 2020
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The offer for the 2 healthcare facilities was conditionally authorized by California Attorney General Xavier Becerra July 27. Some of the conditions include that AHMC will keep the healthcare facilities open at least 5 and a half years. © Copyright ASC COMMUNICATIONS 2020.

The offer for the 2 medical facilities was conditionally authorized by California Attorney General Xavier Becerra July 27. A few of the conditions consist of that AHMC will keep the healthcare facilities open a minimum of 5 and a half years. In addition, AHMC will require to provide more than $1 million in charity take care of the surrounding neighborhood in the next six financial years..

As part of the charity care requirement, Mr. Becerra said AHMC needs to cover in full care for individuals who are uninsured or make at or below 250 percent of the federal poverty line..

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AHMC Healthcare is a Southern California-based incorporated health system..

For-profit company AHMC Healthcare has completed the purchase of two California medical facilities from Verity Health System, an insolvent system based in El Segundo, Calif, according to Mercury News..

The sale became final recently, months after Verity Health Systems bankruptcy and an unsuccessful offer threatened to close the Daly City healthcare facility..

The 2 healthcare facilities, Seton Medical Center in Daly City, Calif., and Seton Coastside in Moss Beach, Calif., were cost $40 million..

Verity Health, which entered Chapter 11 insolvency in 2018, reached an offer to offer the two healthcare facilities in April..

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