St. Joseph Health System has won the bid on South Coast Medical Center in Laguna Beach, Calif., which Adventist Health put up for sale in September.
Adventist Health will now enter into confidential negotiations with St. Joseph Health System of Orange, Calif., to define the terms of the agreement, officials announced. Both organizations are not-for-profit and faith-based.
We would like to see South Coast Medical Center continue as a community hospital after our stewardship ends, and we look forward to working out the terms of the sale with St. Joseph Health System, Robert Carmen, president and chief executive officer of Adventist Health, based in Roseville, Calif., said in a written statement.
Adventist Health acquired the 83-bed South Coast Medical Center in 1998 and since then has been covering revenue shortfalls. The 49-year-old facility lost $2.3 million in 2006, according to state records. The deal is subject to review by the California attorney general. -- by Rebecca Vesely
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