Shuttered Madera (CA) Community Hospital reached an initial agreement to have Roseville, CA-based Adventist Health take over operations, per Becker’s.
The deal comes after a bankruptcy judge gave the hospital until Aug. 4 to continue its spending plan and search for a buyer or face liquidation from its creditors. The hospital — which has been closed since the start of 2023 — also applied for an $80 million loan from the newly created Distressed Hospital Loan Program.
Financial advisors told county officials that it could take six to nine months for Madera to reopen once it finds a buyer.
