< 1 min read
July 20, 2015
Daughters of Charity get $250m from private investment firm, after original buyer backed out when AG stipulated they keep all 6 affected CA hospitals open.
"A private investment firm will make a $250-million cash infusion in a struggling chain of six Catholic hospitals in California under a deal announced Friday. The firm, BlueMountain Capital Management in New York, also would oversee management of the chain, called Daughters of Charity Health System, which would keep its nonprofit status.... The proposed deal comes four months after Prime Healthcare Services Inc., an Ontario-based hospital operator, backed out of plans to purchase Daughters of Charity for $843 million." -- James F. Peltz, the Los Angeles Times