The deal comes after a bankruptcy judge gave the hospital until Aug. 4 to continue its spending plan and search for a buyer or face liquidation from its creditors. The hospital — which has been closed since the start of 2023 — also applied for an $80 million loan from the newly created Distressed Hospital Loan Program.
Financial advisors told county officials that it could take six to nine months for Madera to reopen once it finds a buyer.
“California hospitals face many financial challenges, and for independent rural hospitals, these challenges can sometimes be almost insurmountable,” Adventist President and CEO Kerry Heinrich said in a July 28 Adventist news release provided to Becker’s. “If Madera succeeds in getting the financial resources it needs, Adventist Health will provide Madera Community Hospital with the expertise of a large healthcare system, helping to secure a sustainable future for healthcare in Madera County.”
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
