Tulare (Calif.) Regional Medical Center, a 112-bed public hospital, has begun a valuation process to find a lease or affiliation partner, according to a Visalia Times-Delta report.
Tulare Regional's board approved a $37,000 contract to Torrance, Calif.-based consulting firm Medical Development Specialists, which will look at the hospital's fair market value. Already, seven to eight healthcare organizations have expressed interest in an affiliation, joint venture or partnership, according to the report.
Officials said Tulare Regional is suffering from patient leakage to Kaweah Delta Health Care District, a 581-bed public hospital system in Visalia, Calif. If the current financial patterns continue, the hospital may not be viable next year, according to the report.
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