Children's Hospital & Research Center Oakland (Calif.) and Lucile Packard Children's Hospital in Palo Alto, Calif., are exploring a merger or strategic alliance, according to a San Francisco Business Times report.
Both hospitals have been struggling to develop financially viable plans to meet California's seismic standards for hospitals. Children's Oakland recently abandoned plans for a $700 million rebuild and will instead pursue a roughly $100 million retrofit, according to the report.
Children's projected a $26 million loss for the year but enacted a number of initiatives with the goal of reducing the projected losses to $16 million.
No additional details about the talks were released, and an official for Lucile Packard said there is no deadline to make a decision in the matter.
Read the San Francisco Business Times report on Children's Hospital & Research Center Oakland and Lucile Packard Children's.
Read more coverage on California children's hospitals:
- Nurses Begin Three-Day Strike at Children's Hospital Oakland
- National Association of Children's Hospitals and Related Institutions Names New Chairman
Both hospitals have been struggling to develop financially viable plans to meet California's seismic standards for hospitals. Children's Oakland recently abandoned plans for a $700 million rebuild and will instead pursue a roughly $100 million retrofit, according to the report.
Children's projected a $26 million loss for the year but enacted a number of initiatives with the goal of reducing the projected losses to $16 million.
No additional details about the talks were released, and an official for Lucile Packard said there is no deadline to make a decision in the matter.
Read the San Francisco Business Times report on Children's Hospital & Research Center Oakland and Lucile Packard Children's.
Read more coverage on California children's hospitals:
- Nurses Begin Three-Day Strike at Children's Hospital Oakland
- National Association of Children's Hospitals and Related Institutions Names New Chairman