A group of business leaders in Watsonville, Calif., is looking to raise the last $7.8 million out of $67 million needed to acquire the bankrupt Watsonville Community Hospital, according to a letter published Aug. 2 in Lookout Santa Cruz.
The hospital has been in bankruptcy for more than six months, and organizers are working on a plan to convert the hospital to a non-profit with a board of directors rooted in the community.
In addition to fundraising, current efforts include negotiating hospital facility rent down by 25 percent, earning reaccreditation for the cath-lab, and investing in needed infrastructure to improve insurance collections.
According to the letter, the hospital serves about 30,000 patients annually and employs 600 people.