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All tagged Adventist Health
MCMC is facing significant financial challenges, and there are solvency concerns for the hospital if the transaction is not completed. Adventist will assume MCMC’s current financial obligations and has committed to investing $100 million of capital in MCMC over the next ten years.
Adventist Health is in the process of purchasing Mid-Columbia Medical Center in The Dalles with promises of investing $100 million over the next ten years. Fierce Healthcare Just reported Adventist is laying off 59 administrators at its headquarters in Roseville, Calif. The money will be reinvested into its hospitals and clinics “to help realign directly where care is delivered.” Meanwhile, the buyout of MCMC is awaiting regulatory approvals from both the Oregon Health Authority and the Department of Justice.
“Through this business deal, Adventist will become the new owner of MCMC,” according to the notice summary posted by the Oregon Health Authority “...Adventist says that MCMC will continue to provide its existing health care services, including reproductive health care.”
The Lund Report, a nonprofit, non-partisan news site, recently published a well-detailed report on the finances of both Mid-Columbia Medical Center and its possible future partner Adventist Health as the two could possibly have agreements in place to join forces by the end of 2022.
