Bankruptcy Law News

Verity Agrees to $40 Million Bankruptcy Sale of Two Hospitals

March 30, 2020, 10:16 PM

California hospital operator AHMC Healthcare Inc. has agreed to purchase two hospital locations from bankrupt Verity Health System of California Inc. for $40 million and assume continued care over Covid-19 patients.

Verity filed a motion Sunday at the U.S. Bankruptcy Court for the Central District of California, seeking approval to sell Seton Medical Center and Seton Medical Center-Coastside, both located in the San Francisco-area.

The continued operation of the Seton sites will benefit the communities they serve and “will be critical” to the state’s efforts to address the ongoing coronavirus pandemic, the virus that causes Covid-19, Verity said.

The bankrupt...

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