SAN BENITO HEALTH CARE DISTRICT MOVES TO CONTINUE NEGOTIATIONS WITH INSIGHT

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Jun 06, 2024, 12:18 ET

HOLLISTER, Calif., June 6, 2024 /PRNewswire/ -- The San Benito Health Care District (SBHCD) Board of Directors directed staff to pursue negotiations with Insight as a potential transaction partner. The decision came after a months-long review of proposals provided by interested parties, which included Insight the County of San Benito, and American Advanced Management.

"After reviewing the two options, receiving presentations, and asking clarifying questions of the proposers, the Board has come to the conclusion that the best opportunity to ensure access to quality care in our County is to enter into a transaction with Insight," said Board President Jeri Hernandez. "Now is the time to come together and work to finalize an agreement that will secure continued operations of our hospital and clinics and plan for expansion of service lines to better serve the growing needs of this community."

Additionally, the Board felt confident in Insight's track record of investments and building service lines in other hospitals and the fact that they have a practicing physician as their president and CEO. The County JPA proposal relies heavily on using the assets of the hospital to secure more debt to achieve the short-term goals of its business plan. The Board felt that given the finances of the hospital today, taking on more debt for stabilization and expansion was untenable.

The Board, hospital leadership and Insight will work together to finalize terms and prepare definitive agreements. If the Board decides to proceed with a transaction, they will take a vote to place it on the ballot, and it will be presented to voters at the November 2024 election for final approval.

"While we did not feel the County's JPA proposal provided the Board with necessary assurances or financing regarding the future of the District, we appreciate the time and effort behind their proposal and are hopeful we can find another way to work together regarding health care within the County," said Hernandez. "We welcome their cooperation as we work toward finalizing a transaction with Insight."

About Hazel Hawkins Memorial Hospital

Hazel Hawkins Memorial Hospital is a full-service, public agency hospital delivering modern medicine and compassionate care to the growing San Benito County community. HHMH offers hundreds of health services across multiple locations, including top-tier specialists, a modern Emergency Department, and a state-of-the-art Women's Center. To learn more about Hazel Hawkins Memorial Hospital and the Hazel Hawkins Hospital Foundation, please visit www.hazelhawkins.com.

PR CONTACT: Marcus Young
Hazel Hawkins Memorial Hospital
Phone: (831) 636-2644
Email: [email protected]

SOURCE Hazel Hawkins Memorial Hospital