Recently formed healthcare group Pajaro Valley Health Care District needs to gather at least $20 million by July to purchase the bankrupt Watsonville (Calif.) Community Hospital, Santa Cruz Sentinel reported April 4.
The group needs about $66 million to operate the hospital in the first year of ownership.
"In some ways, because of the bankruptcy, this is a moving number, but it's the minimum number that we know we need to purchase the hospital through the sale … and then also run the hospital for the first year," said Mimi Hall, a healthcare district board member, said during an April 1 Aptos Chamber of Commerce meeting, according to Sentinel.
The group was approved by a bankruptcy judge to purchase the hospital in February after no other qualified bids were submitted. It offered to buy the hospital in 2021 when officials said it would close if there were no buyers.
So far, $25.8 million has been committed for the hospital by government, philanthropic and healthcare players. The group is also asking for $20 million from California Gov. Gavin Newsom's administration in the state budget, according to the Sentinel.