In November, the hospital — an affiliate of UC San Diego Health — installed an acting CEO and CFO from Nashville, Tenn.-based consulting firm Healthcare Management Partners. When the pair stepped down after a few months, the hospital sought partnerships to stay afloat. However, other local entities — specifically the nearby Pioneer Memorial Hospital in Brawley, Calif. — were deterred by the hospital’s significant debt.
UC San Diego Health will now assume full operational, clinical and financial management of the hospital, according to a Feb. 27 news release from the health system. For 12 to 18 months, their strategic plan will aim to stabilize and improve the finances of the hospital.
Preston Hollow Community Capital, the hospital’s majority bondholder, will provide financial and other resources.
In the long term, local healthcare leaders are discussing consolidation to a single regional healthcare system.
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