DALY CITY, Calif. – For months now, Filipino health care workers and patients in Daly City feared that they would not have a hospital to go to.
That’s because of the failing hospital system owned by the Daughters of Charity.
Seton Hospital in Daly City is one of six hospitals owned by the Daughters of Charity. The hospital system has been losing roughly $10 million a month since last year. Then on Friday there was a breakthrough.
The Daughters of Charity announced that BlueMountain Capital Management is buying the hospital system.
According to a press release, BlueMountain will initially infuse $250 million into the hospitals and will honor current union contracts.
Current Daly City Councilman and former Mayor David Canepa says this is welcomed news.
“We have a lot of workers who live and work here,” said Canepa. “We have a population that is under-insured or may not have insurance. The emergency room will remain open.”
Unions which were at odds over Prime Healthcare acquiring the Daughters of Charity hospitals, both intend to meet with BlueMountain to promote the best interest for the workers and patients.
The California Nurses Association covers about 1,800 registered nurses within the Daughters of Charity Health System.
California Attorney General Kamala Harris will again need to approve this deal and so in order to evaluate the agreement between the Daughters of Charity and BlueMountain, there will be a 105-day processing period during which public hearings will be available for those wanting to comment.