The Madera Community Hospital is one of 16 across the state seeking loans from California’s newly created program for distressed hospitals.
The hospitals are seeking more money than what’s available. The funding being sought across the 16 preliminary loan applications is more than the $300 million that is available through the new program. Thus far, the total amount combined across all the applications that have been submitted to the state is $385.3 million, said Scott Christman, chief deputy director at the California Department of Health Care Access and Information, which is administering the program.
The Madera hospital alone is seeking an $80 million loan to reopen, Riley Walter, the bankruptcy attorney for the now-closed hospital, said. The hospital submitted its application more than 10 days ago, The Fresno Bee reports. Read more.
