The San Andreas, Calif.-based Mark Twain Health Care District board approved a 30-year management lease with San Francisco-based Dignity Health Jan. 24, according to The Union Democrat.
Here are four things to know about the deal.
1. San Andreas-based Mark Twain Medical Center's current lease with Dignity Health expires Dec. 31, 2019. Officials opted to renew the organization's lease agreement with Dignity Health after Roseville, Calif.-based Adventist Health retracted its bid to operate the hospital in December.
2. Under the new lease agreement, Dignity Health will pay the district at least $100,000 per month. Dignity Health will also pay the first five years of rent, approximately $6 million, at the time of the deal's closing.
3. If the lease is not renewed for the full 30 years, the Mark Twain Health Care District will receive an early termination fee amounting to $10,000 for each month of the remaining 30 years, the report states.
4. The deal must still be ratified by residents of Calaveras County, which will vote on a ballot measure dealing regarding the lease agreement in June.
To read the full report, click here.