17 distressed California hospitals get state-backed loans

California announced 17 recipients of the distressed hospital loan program, a program designed to keep struggling hospitals afloat through zero-interest loans.

The $300 million in loans were distributed to applicants that created a plan outlining how the loan would help them return to financial stability.

The 17 hospitals and the amount they were awarded:

  1. Beverly Community Hospital (Montebello): $5 million

  2. Chinese Hospital (San Francisco): $10.35 million

  3. Dameron Hospital Association (Stockton): $29 million

  4. El Centro Regional Medical Center: $28 million

  5. St. Rose Hospital (Hayward): $17.65 million

  6. Hazel Hawkins Memorial (Hollister): $10 million

  7. John C. Fremont Healthcare District (Mariposa): $9.35 million

  8. Kaweah Delta Health Care District (Visalia): $20.75 million

  9. Madera Community Hospital: $2 million

  10. Martin Luther King, Jr. Community Hospital (Los Angeles): $14 million

  11. Palo Verde Hospital (Blythe): $8.5 million

  12. Pioneers Memorial Hospital District: $28 million

  13. Ridgecrest Regional Hospital: $5.5 million

  14. San Gorgonio Memorial Healthcare District: $9.8 million

  15. Sonoma Valley Hospital: $3.1 million

  16. TriCity Medical Center (Oceanside): $33.2 million

  17. Watsonville Community Hospital: $8.3 million

Editor's note: Madera will receive a $2 million bridge loan to cover operational costs while Adventist Health provides a turnaround plan for the hospital. When the plan is approved, Madera Community Hospital will be eligible for an additional $50 million loan. 

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