Pajaro Valley Healthcare District Project is a coalition of Santa Cruz County nonprofits and government agencies.
The hospital filed for bankruptcy in December 2021. The group was approved by a bankruptcy judge to purchase the hospital in February after no other qualified bids were submitted. It offered to buy the hospital in 2021 when officials said it would close if there were no buyers.
The purchase price for the hospital is $63 million, according to Lookout. The group has $46 million already committed, with $16 million remaining. The $46 million includes $26 million in donations and $20 million committed from the state.
However, the funding from the state isn’t guaranteed unless the state budget, slated to come through June 15, is finalized, according to the report.
Read more here.
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