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California's Mission Community Hospital Nears Transition to For-Profit Status

Mission Community Hospital in Panorama City, Calif., is in the process of major upgrades with the help of its soon-to-be owner, Deanco Healthcare of Beverly Hills, Calif., according to a Daily News Los Angeles report.

Deanco is paying nearly $35 million for a three-stage hospital upgrade process, launched last year. The company started as a consultant to the public hospital, but it is now managing it and will assume ownership of the facility in 2013 from San Fernando Community Hospital, MCH's current owner. When the sale is finalized, the hospital will switch from nonprofit to for-profit status.  

Deanco has already added about 100 physicians and is spending nearly $5 million for high-tech equipment and capital improvements. The hospital is also renovating two floors of the north tower — a $1 million project that will add 25 acute-care beds, according to the report.

Related Articles on For-Profit Transitions:

Colorado AG Says HCA/HealthONE Deal Isn't Non-Profit Conversion, Eases Scrutiny
Two Physician-Owned Indiana University Hospitals May Transition to Nonprofit Status
Plan to Transition Public Jackson Health to Non-Profit Won't Proceed

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