The American Advanced Management (AAM) has reached an initial letter of intent (LOI) with San Benito Health Care District for Hazel Hawkins Memorial Hospital (HHMH).
The LOI will lay the foundation for talks regarding a strategic alliance.
Go deeper with GlobalData
It suggests the concept of AAM entering a ‘lease-to-own’ arrangement for the District’s assets. This arrangement will involve leasing for several years before full ownership.
The LOI marks the initial phase of a detailed and public process. The District Board will review it at its upcoming meeting, conduct due diligence, and negotiate more terms for this potential tie-up.
AAM plans to collaborate with the local medical team to introduce additional specialities and services to HHMH. Cardiology and inpatient dialysis are among the identified areas, which are expected to retain more local patients.
Hazel Hawkins interim CEO Mary Casillas said: “When we started this process in December, our goals were simple: do all we can to stabilise the finances of the district while maintaining quality healthcare for the community; find a partner or buyer who understood the unique needs of our community; and find a partner who possessed the resources to guarantee a continuum of care delivery for the future needs of our County.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAmerican Advanced Management was founded in 2012, marked by the launch of its inaugural hospital, Central Valley Specialty.
This general acute care speciality hospital is located in Modesto, California, US.
