Hawaiian Gardens, Calif.-based Gardens Regional Hospital & Medical Center has entered into a management service agreement with Paladin-Gardens Management, a healthcare management unit of Paladin Healthcare in El Segundo, Calif., according to a news release.
Here are five things to know about the agreement.
1. The new agreement started Oct. 12.
2. Under the agreement, Gardens Regional Hospital & Medical Center will continue to operate as a nonprofit general acute care medical-surgical facility, including 24/7 emergency care services.
3. Paladin-Gardens Management will oversee day-to-day operations of the hospital. It also will lead a new team of hospital leadership, including a new CEO and CFO, officials said.
4. Aside from management services, Harbor-Gardens Capital I, an affiliate of Paladin, will provide financial assistance to the hospital. Terms of the agreement were not disclosed.
5. In a news release, Brian Walton, chairman of the Gardens Regional Hospital & Medical Center Board of Directors, said the hospital is confident the Paladin partnership "will improve access to high quality healthcare services, bring a new level of operational efficiency [and]achieve financial viability."
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