Sansum Clinic, the largest health care nonprofit in Santa Barbara County, entered into negotiations for acquisition by Sutter Health, a large Northern California health system, EdHat reports.
The “strategic partnership” includes signing a non-binding letter of intent with a formalized partnership expected in the coming weeks. Sutter Health will be Sansum’s new owner, although the clinic will continue to manage itself.
Sansum Clinic has been looking for a new owner for the past two decades with Cottage Health being the obvious choice, although the federal government twice blocked a merger between the two local healthcare companies.
In 2019, Sansum’s gross revenue was just over $344 million with total salaries taking up over $87 million. The top seven administrators earned a combined annual salary of over $2.2 million, according to tax records. Read more.
