California hospital is now publicly owned after healthcare district raises $67M for purchase – Becker's Hospital Review

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Hospital Transactions and Valuations
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The Pajaro Valley (Calif.) Health Care District finalized the purchase of the Watsonville (Calif.) Community Hospital, according to an Aug. 31 report in Lookout Santa Cruz.
The transaction follows the Watsonville Community Hospital’s declaration of bankruptcy in December, the passage of legislation to create the Pajaro Valley Health Care District, and a fundraising campaign described as “the largest in county history,” which raised $67 million ahead of the bankruptcy deadline of Aug. 31 to purchase the hospital. 
California state Sen. John Laird issued a statement Aug. 31 acknowledging all the contributions to the transaction. 
“It is heartening to know that the purchase of Watsonville Hospital by the Pajaro Valley Health Care District has been finalized, ensuring this vital facility is entrusted to public hands,” the statement said. “Watsonville Hospital is a lifeline for the Pajaro Valley – from the beginning of life to the end, this facility will remain steady in its mission.”
The 106-bed hospital employs more than 620 people, including 200 physicians. The emergency department treats about 30,000 patients each year.
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