California announced 17 recipients of the distressed hospital loan program, a program designed to keep struggling hospitals afloat through zero-interest loans.
The $300 million in loans were distributed to applicants that created a plan outlining how the loan would help them return to financial stability.
The 17 hospitals and the amount they were awarded:
- Beverly Community Hospital (Montebello): $5 million
- Chinese Hospital (San Francisco): $10.35 million
- Dameron Hospital Association (Stockton): $29 million
- El Centro Regional Medical Center: $28 million
- St. Rose Hospital (Hayward): $17.65 million
- Hazel Hawkins Memorial (Hollister): $10 million
- John C. Fremont Healthcare District (Mariposa): $9.35 million
- Kaweah Delta Health Care District (Visalia): $20.75 million
- Madera Community Hospital: $2 million
- Martin Luther King, Jr. Community Hospital (Los Angeles): $14 million
- Palo Verde Hospital (Blythe): $8.5 million
- Pioneers Memorial Hospital District: $28 million
- Ridgecrest Regional Hospital: $5.5 million
- San Gorgonio Memorial Healthcare District: $9.8 million
- Sonoma Valley Hospital: $3.1 million
- TriCity Medical Center (Oceanside): $33.2 million
- Watsonville Community Hospital: $8.3 million
Editor's note: Madera will receive a $2 million bridge loan to cover operational costs while Adventist Health provides a turnaround plan for the hospital. When the plan is approved, Madera Community Hospital will be eligible for an additional $50 million loan.