Tulare (Calif.) Regional Medical Center, a 112-bed hospital managed by Tulare-based HealthCare Conglomerate Associates, is in a dire financial situation.
The hospital entered into a management agreement in 2014 with HCCA, which is led by Benny Benzeevi, MD. HCCA led Tulare Regional through a financial turnaround, but the hospital has not sustained those results.
On Sept. 30, Tulare Regional filed for Chapter 9 bankruptcy. The hospital's bankruptcy petition revealed it has zero cash in its bank accounts. The hospital faces "imminent risk of closure," according to bankruptcy documents signed by Kevin Northcraft, president of the hospital's board, according to the Visalia Times-Delta.
Dr. Benzeevi claims Tulare Regional owes HCCA about $7 million, but HCCA wasn't listed among the hospital's list of creditors filed in the bankruptcy case.
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