California hospital set to emerge from bankruptcy after 2 years


https://www.beckershospitalreview.com/finance/california-hospital-set-to-emerge-from-bankruptcy-after-2-years.html

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A U.S. bankruptcy court approved Tulare (Calif.) Local Health Care District’s Chapter 9 plan on Aug. 16. The district, which includes a 101-bed hospital, is now set to emerge from the bankruptcy process, according to The Porterville Recorder.

Tulare Regional Medical Center, the district’s hospital, entered Chapter 9 bankruptcy in 2017 and closed for a year. The hospital reopened in October 2018 and entered into a lease agreement with Roseville, Calif.-based Adventist Health. The hospital, now called Adventist Health Tulare, recently opened a birth center and plans to add a sleep lab and mammography services.

Adventist Health Tulare President Randy Dodd is pleased the court approved the healthcare district’s bankruptcy plan.

“This is the resolution we have all been hoping for,” he said, according to The Porterville Recorder. “The partnership we began with Tulare in 2018 is a perfect fit with Adventist Health’s commitment and service to the Central Valley. We are glad to be able to extend our excellent healthcare system to this underserved market.”

 

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