| WHAT YOU NEED TO KNOW: Madera Community Hospital, which has been closed since December 2022 and filed for bankruptcy in March 2023, has been approved for $57 million in financing from the Distressed Hospital Loan Program. |
SACRAMENTO – Today California helped Madera Community Hospital get one step closer to reopening its doors as it approved a $57 million loan under the Distressed Hospital Loan Program administered by the Department of Health Care Access and Information (HCAI) and the California Health Facilities Financing Authority (CHFFA).
“These loans are already helping struggling hospitals turnaround their finances and stay open to provide much needed care to their communities,” said HCAI Director Elizabeth Landsberg. “We’re glad Madera Community Hospital will be able to take advantage of this resource to help the facility reopen soon.”
Madera Community Hospital’s award is part of nearly $300 million in no-interest loans to 16 health care facilities under the Distressed Hospital Loan Program.
APPLICATION APPROVED: Also today, the California Department of Public Health (CDPH) approved a Change of Management Application filed by American Advanced Management, Inc. (AAMI), for Madera Community Hospital. This approval allows the provider to begin the hospital’s reopening process. CDPH will monitor this process closely to ensure all state and federal regulations are met and that the facility, once reopened, will provide its community access to safe, high-quality care.
KEY PROGRAM DETAILS: The Distressed Hospital Loan Program, established through Assembly Bill 112, offers interest-free, working capital loans to nonprofit and publicly operated financially distressed hospitals, including facilities that belong to integrated healthcare systems with less than three separately licensed hospital facilities.
FULL LIST OF HOSPITALS RECEIVING SUPPORT:
| Facility Name | Loan Award |
| Chinese Hospital | $10,350,000 |
| Dameron Hospital Association | $29,000,000 |
| El Centro Regional Medical Center | $28,000,000 |
| Hayward Sisters Hospital, dba St. Rose Hospital | $17,650,000 |
| Hazel Hawkins Memorial | $10,000,000 |
| John C. Fremont Healthcare District | $9,350,000 |
| Kaweah Delta Health Care District | $20,750,000 |
| Madera Community Hospital | $57,000,000 |
| Martin Luther King, Jr. Community Hospital | $14,000,000 |
| Palo Verde Hospital | $8,500,000 |
| Pioneers Memorial Healthcare District | $28,000,000 |
| Ridgecrest Regional Hospital | $5,500,000 |
| San Gorgonio Memorial Healthcare District | $9,800,000 |
| Sonoma Valley Hospital | $3,100,000 |
| TriCity Medical Center | $33,200,000 |
| Watsonville Community Hospital | $8,300,000 |
BIGGER PICTURE: California is committed to supporting the state’s health care delivery system and underserved communities. Many of the hospitals awarded loans through the Distressed Hospital Loan Program serve rural areas of the state, and provide care to communities with lower income and communities of color.