Hanford, Calif.-based Adventist Health Central Valley Network is taking over Sierra Kings District Hospital in Reedley, Calif., according to a Hanford Sentinel report.
The deal was finalized Oct. 12 and Adventist will begin operating Sierra Kings Nov. 1. The name will change to Adventist Medical Center-Reedley.
Under the deal, Adventist will assume Sierra Kings’ lease for $800,000 a year while purchasing its rural clinics for $4.6 million and equipment for $3.7 million, to be paid on the closing date.
Sierra Kings has been facing financial challenges, and the district filed for bankruptcy protection in late 2009.
Related Articles on Recent Hospital Transactions:
New Orleans’ Methodist Hospital Seeks Private Partners
Florida’s Munroe Regional Medical Center Weighs Costs of Privatization
Ozarks Medical Center, Fulton County Hospital in Missouri to Negotiate Management Agreement
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