Hazel Hawkins Hospital announced they have received a $3 million loan from the California Health Facilities Financing Authority, KION reports.
This loan will give the hospital more time to find a strategic partner, as it was estimated the hospital would have run out of money by Feb. 18. The district believes it needs at least until September 2023 for its marketing process and to close a deal for a strategic partner.
“With this loan and other operational savings endeavors, we have extended the date the district will run out of cash to mid-March,” said Mary Casillas, Interim CEO. “Part of our long-term plan moving forward is to continue to search for additional funding and strategic partnership opportunities along with evaluating our daily operations to identify and implement cost-saving measures to continue to extend that date.”
A public forum is set for Jan. 23, when the hospital will provide further details on their financial state and what is being done to keep hospital services. Read more.
