Hollister, Calif.-based Hazel Hawkins Memorial Hospital has signed a nondisclosure with an unnamed healthcare organization, BenitoLink reported Feb. 6.
If a transition were to move forward, a sale would take six to nine months, a hospital spokesperson told the news outlet.
Hazel Hawkins interim CEO Mary Casillas previously said the hospital is seeking a buyer or partnership to stabilize its finances. 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.
The hospital has enough funds to carry it into April after receiving a property tax advance of $1.1 million from San Benito County and a $3 million loan from the state, according to BenitoLink.