The loan was approved by the Department of Health Care Access and Information and the California Health Facilities Financing Authority through the Distressed Hospital Loan Program – established by Gov. Gavin Newsom in partnership with the state legislature. The program helps hospitals in severe financial stress stay open and keep crucial care available, according to an April 8 announcement from the governor’s office.
The California Public Health Department also approved a change of management application filed by American Advanced Management for the hospital. A U.S. bankruptcy judge has approved AAM’s plan to operate Madera Community Hospital in February.
A timeline for when the hospital will reopen has not been released. The hospital closed in January 2023 after filing for bankruptcy.
