The financial conditions, according to an Adventist letter of intent provided to Becker’s:
- Madera obtains funds to meet all bankruptcy obligations and satisfy creditors.
- Adventist receives $55 million in funds for services, supplies, software, systems, staffing, training and maintenance costs associated with the first year post-reopening of the hospital.
- The health system receives $30 million to sustain hospital operations in its second year.
The funds can come from the California Distressed Hospital Loan Program or other sources, such as grants and loans.
