Wednesday, January 15, 2014

Daughters of Charity hospitals (including Seton) seeking buyers

Half Moon Bay Review/Mark Noack, 1/15/14.  "Seton Coastside Medical Center on the block."

Seton Coastside, Moss Beach
Seton Medical Hospital, Daly City
...,.  "Explaining the world of healthcare was rapidly changing, Daughters of Charity officials indicated they would seek other Catholic nonprofits to purchase and manage each individual hospital, and that the entire network was for sale.

....  Along with Seton Coastside, the Daughters of Charity also hopes to sell Seton Medical Center in Daly City, O’Conner Hospital in San Jose, Saint Louise Regional Hospital in Gilroy and two hospitals in Los Angeles County.

Seton Coastside generated $25.3 million in revenues in the 2013 fiscal year – a 20 percent increase over the previous year. But it was still losing money on an annual basis, according to the Daughters of Charity.

The decision to sell the hospital came amid large-scale changes in the healthcare industry, wrote Daughters of Charity Vice President Elizabeth Nikels in an email to the Review. Federal health care reform, cuts in insurance reimbursements and general uncertainty in the economy combined to make it harder for the nonprofit to continue, she explained."  Read article.

Note photographs:   Seton Medical Center, Daly City from, Seton Coastside, Moss Beach from New

Posted by Kathy Meeh

1 comment:

Anonymous said...

The Catholics were the experts in creating the best healthcare system in the world. I don't know what we will do without them. Compassion you will not see anywhere else. So sad.