This week, the Department of Health Care Access and Information
(HCAI) and the California Health Facilities Financing Authority
approved a $57 million no-interest loan through the
Distressed Hospital Loan Program to reopen the Madera Community
Hospital. In addition, the California Department of Public Health
(CDPH) has approved a Change of Management Application filed by
American Advanced Management, Inc. These approvals will allow the
Madera Community Hospital to begin the reopening process.
The Distressed Hospital Loan Program, which was established
through a
2023 budget bill, provides interest-free, working capital
loans to non-profit and publicly-operated financially distressed
hospitals. Madera Community Hospital joins a list of 15 other
health care facilities receiving a total of nearly $300 million
in no-interest loans through the Program. Many of the hospitals
awarded loans serve rural areas of the state and provide care to
low-income communities and communities of color.
