$3M loan gives Hazel Hawkins more time to fix fiscal emergency

Hollister, Calif.-based Hazel Hawkins Memorial Hospital has received a $3 million loan from the California Health Facilities Financing Authority that will extend the estimated time it will run out of funds to mid-March, CBS affiliate KION reported Jan. 12. 

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Prior to receiving the loan, the hospital estimated that it would run out of funds on Feb. 18, according to the report. Hazel Hawkins officials believe the hospital needs at least until September to find a strategic partner. 

“Part of our long-term plan moving forward is to continue to search for additional funding and strategic partnership opportunities along with evaluating our daily operations to identify and implement cost-saving measures to continue to extend that date,” Hazel Hawkins interim CEO Mary Casillas said, according to the news outlet. 

The hospital’s board of directors on Nov. 4 passed a resolution declaring a fiscal emergency, which granted administrators the authority to file Chapter 9 bankruptcy if and when necessary.

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