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California County Considers Buying 2 Daughters of Charity Hospitals

Santa Clara (Calif.) County is reportedly interested in acquiring two hospitals from Daughters of Charity Health System, according to a San Jose Mercury News report.

The local government is open to buying O'Connor Hospital in San Jose, Calif., and Saint Louise Regional Hospital in Gilroy, Calif., according to the report. Last month, DCHS, a Catholic-based network in Los Altos Hills, Calif., announced it is searching for a buyer for any or all of its six hospitals.

A spokesperson with Santa Clara County said the "conversation has only just begun," and no details were given on any potential transaction. DCHS told the Mercury News it would not "speculate on any potential buyers."

According to DCHS' report for fiscal year 2013, which ended June 30, the health system had approximately $1 billion in total assets and posted a $90.7 million operating loss.

In March 2012, DCHS signed a memorandum of understanding to merge with St. Louis-based Ascension Health. The system later signed an affiliation agreement that December. DCHS still maintains the affiliation agreement with Ascension, but its hospitals will not merge with Ascension.

More Articles on Hospital Transactions:
Cadence, Rockford Health Systems Call Off Merger
Atlantic Health System to Assume Ownership of Hackettstown Regional Medical Center
Carilion Clinic Sells Bedford Memorial Hospital to Centra Health

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