The decision clears the way for completion of the purchase transaction for the 208-bed 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.
City officials are pleased that the sale has gone forward, despite some misgivings.
“The city did not get everything we were asking for, but the conditions from the attorney general are generally in line with what we wanted,” Assistant City Manager John Pietig said.
The conditions include a provision that the hospital be maintained through the end of 2012, no matter what happens regarding seismic retrofitting requirements by the state.
