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127-year-old California hospital facing closure may have a buyer

Daly City, Calif.-based Seton Medical Center, which faces closure after a deal to purchase it fell apart last month, may have a new buyer, according to the San Francisco Chronicle

The medical center is talking to Apollo Medical Holdings and AHMC Healthcare, a Southern California healthcare management company, about a potential sale, Robert Perez, MD, a Seton physician who oversees the medical staff and is knowledgeable of the sales discussions, told the Chronicle.

The safety-net hospital, which is the city's biggest employer, risks closure within two months without a buyer, Dr. Perez said.

Seton is owned by Verity Health System, which filed for bankruptcy in 2018. Last year, Strategic Global Management made a $610 million bid to buy four of Verity's six hospitals, including Seton, but the deal fell apart in late December.

Verity declined to say whether it is in talks with Apollo, but told the Chronicle it is "actively working on many options."

If the sale goes through, a judge overseeing the bankruptcy process for Verity would need to approve it.

Read the full report here

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