California grants conditional approval for Daughters of Charity deal

Modern Healthcare

  • California Attorney General Kamala Harris granted conditional approval allowing a private-equity firm to take over the Daughters of Charity Health System. But she once again imposed hefty requirements on the transaction. The Los Altos Hills-based system needs a buyer to remain solvent and has already seen one deal fall through.The latest approval terms require BlueMountain Capital Management to maintain the system's essential services for at least 10 years. That condition was one of the deal breakers for Prime Healthcare Services, the first for-profit suitor that tried to buy Daughters.

  • New Speaker Paul Ryan pledged that the House will finally come up with a replacement for President Barack Obama's healthcare law. Republicans have promised but failed to coalesce around a new plan since the Affordable Care Act became law more than five years ago. “We think this problem is so urgent that, next year, we are going to unveil a plan to replace every word of Obamacare,” Ryan said. Although short on new ideas and lacking specifics, the Wisconsin Republican's speech made clear that he has no desire to hang back and play a supporting role to the GOP's presidential nominee next year. Ryan was the party's vice presidential nominee in 2012.

  • Dignity Health has sold off investments in thermal coal companies and will no longer invest in that industry. It's one of the boldest moves to date by a U.S. health system to align its clinical and financial interests with the need to address climate change. The policy move by Dignity Health, a large San Francisco-based system of hospitals and doctors with $12.4 billion in annual revenue, comes as world leaders meet in Paris to hammer out a global climate change pact. Dignity is one of a handful of U.S. health systems attending the United Nations climate summit, and is educating others in the industry on how they can make tangible progress toward mitigating global warming.
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