South Coast Medical Center will have a new owner on June 30.
Adventist Health and Mission Hospital have both agreed to conditions placed on transfer of the hospital to Mission, Adventist announced in a press release Friday.
The state Attorney General’s office announced on June 9 its approval of the acquisition of South Coast Medical Center by St. Joseph Health System’s Mission Hospital from Adventist Health, but Mission and Adventist had not until today accepted the terms imposed by the state.
The decision clears the way for completion of the purchase transaction by June 30 for the 208-bed Laguna Beach facility.
In a joint statement, the health firms said: “Mission Hospital and Adventist Health are pleased with the decision and would like to publicly thank the Attorney General’s Office for its review and approval of the sale, and the residents and City of Laguna Beach for their support. Transactions of this scope are very complex and require thoughtful assessment and substantial effort to ensure the best possible care for the community.
“We look forward to continuing the tradition of providing compassionate care and service to the community. We will continue to work with Adventist Health to ensure a smooth transition for staff, physicians, patients and families and look forward to further serving the healthcare needs of the residents of the South County coastal communities,” said Peter F. Bastone, president and chief executive officer of Mission Hospital.
“We are pleased that the Attorney General has approved what Adventist Health believes is the most desirable action — selling South Coast Medical Center’s assets to a new not-for-profit owner who will continue its operations and invest in its future, a goal we have shared with the community from the start,” said Teresa Day, vice president, overseeing the sales process for Adventist Health.
For information about the Attorney General’s decision and the conditions, visit http://ag.ca.gov/charities/nonprofithosp.php.
