Madera (Calif.) Community Hospital has been approved for a $57 million no-interest loan that will allow it to begin the reopening process.
The loan was approved by the Department of Health Care Access and Information and the California Health Facilities Financing Authority through the Distressed Hospital Loan Program – established by Gov. Gavin Newsom in partnership with the state legislature. The program helps hospitals in severe financial stress stay open and keep crucial care available, according to an April 8 announcement from the governor's office.
The California Public Health Department also approved a change of management application filed by American Advanced Management for the hospital. A U.S. bankruptcy judge has approved AAM's plan to operate Madera Community Hospital in February.
A timeline for when the hospital will reopen has not been released. The hospital closed in January 2023 after filing for bankruptcy.