( MENAFN - PR Newswire) 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 .
