Adventist Health to Manage Madera Community Hospital, A Step Closer to Reopening

TL;DR Summary
Adventist Health has agreed to manage Madera Community Hospital, which closed in December 2022 due to financial issues. The hospital has secured minimal funding from the county, but more is needed for the future. Madera County Board of Supervisors will vote on giving the hospital $500,000 for August to keep the building on standby. Adventist Health issued a non-binding letter of intent to manage the hospital if funding can be secured. The hospital is hoping to secure funds from California's Distressed Hospital Loan Program, with a requested $80 million loan. The repayment plan and funding sources are still to be determined.
Topics:business#adventist-health#financial-issues#funding#healthcare#madera-community-hospital#reopening
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