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California county OKs $315M to buy, integrate HCA hospital into public system
Becker's Healthcare September 25, 2024
Santa Clara (Calif.) County’s board of supervisors voted unanimously to appropriate $315 million toward its efforts to acquire East San Jose, Calif.-based Regional Medical Center from HCA Healthcare and restore services, the San Jose Spotlight reported Sept. 24.
The county is still finalizing its agreement to purchase Regional Medical Center from Nashville, Tenn.-based HCA, according to the report. The board is allocating $175 million of the appropriated funds toward acquisition of the hospital.
The appropriation also includes:
- $80 million to fund the first few months of hospital operations while awaiting reimbursements from commercials payers, Medi-Cal and Medicare.
- Up to $30 million to purchase independently owned medical office buildings near the hospital.
- Up to $20 million...
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