The hospital, which filed for bankruptcy in March and saw Roseville, Calif.-based Adventist Health end efforts to reopen the hospital in mid-November, is waiting on $52 million from an allocated $300 million in state loans to select medical facilities, the publication reported.
Four hospitals have already received their checks, but Madera’s loan has reportedly been put on hold as it requires purchase or partnership deal security before the funds can be allotted.
In a glimmer of hope, both American Advanced Management and Praise Healthcare have shown interest in purchasing the hospital, with the hospital’s attorney telling the publication the board is currently waiting on paperwork from both parties.
While funding is currently reserved for Madera, the state loans could be returned to emergency funding should no party follow through on the purchase.
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