Voters in the Sierra Kings Health Care District have approved the proposed sale of 49-bed Sierra Kings District Hospital in Reedley, Calif., to Roseville, Calif.-based Adventist Health, according to a Fresno Bee report.
The deal saw an overwhelming show of support by voters, as 2,380 voted in favor of the sale and only 116 voted against it. The agreement includes a 15-year lease of the hospital property estimated to be worth approximately $12 million over the life of the lease, along with $4.6 million to purchase the district's rural health clinics, $3.7 million to buy equipment and $4.5 million to cover unpaid debts.
Sierra Kings, a taxpayer-supported hospital, filed for bankruptcy protection in Oct. 2009.
Read the Fresno Bee report on Sierra Kings Health Care District and Adventist Health.
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The deal saw an overwhelming show of support by voters, as 2,380 voted in favor of the sale and only 116 voted against it. The agreement includes a 15-year lease of the hospital property estimated to be worth approximately $12 million over the life of the lease, along with $4.6 million to purchase the district's rural health clinics, $3.7 million to buy equipment and $4.5 million to cover unpaid debts.
Sierra Kings, a taxpayer-supported hospital, filed for bankruptcy protection in Oct. 2009.
Read the Fresno Bee report on Sierra Kings Health Care District and Adventist Health.
Related Articles on Hospital Sales:
Oklahoma's Mercy Health System to Acquire Logan Medical Center
Duke, LifePoint Joint Venture to Acquire North Carolina's Person Memorial Hospital
Sale of Ohio's Brown County General Hospital to Southwest Healthcare Finalized