Valley Health System Agrees to Sell Hospitals
As reported today in the Press Enterprise, Valley Health System's board of trustees voted to sell off all three of its hospitals to Del ...
http://www.menifee247.com/2007/06/valley-health-system-agrees-to-sell.htm
As reported today in the Press Enterprise, Valley Health System's board of trustees voted to sell off all three of its hospitals to Del Mar-based Select Health Care...
http://www.pe.com/..../PE_News_Local_D_webvalley.107ad86.html
The article goes on to say that the sale cannot be made until approved by voters within the next 120 days.
Selling Menifee Valley Medical Center is what I've been calling for Valley Health System to do ever since Measure I was put before voters last year. The hospital is pretty much rock-bottom at this point in terms of quality of care and level of service. Getting some new ownership and management in place can't make things any worse.
Menifee Valley is a growing community, and its gonna grow even more with Countryside Marketplace coming next year. We need someone new to come in and breath some new life into our hospital.
Near midnight, the board voted 7-0 to sell the district assets, which include Hemet Valley Medical Center, Menifee Valley Medical Center and Moreno Valley Community Hospital, to the venture capital firm for about $135 million.Read the full article here...
http://www.pe.com/..../PE_News_Local_D_webvalley.107ad86.html
The article goes on to say that the sale cannot be made until approved by voters within the next 120 days.
Selling Menifee Valley Medical Center is what I've been calling for Valley Health System to do ever since Measure I was put before voters last year. The hospital is pretty much rock-bottom at this point in terms of quality of care and level of service. Getting some new ownership and management in place can't make things any worse.
Menifee Valley is a growing community, and its gonna grow even more with Countryside Marketplace coming next year. We need someone new to come in and breath some new life into our hospital.
You've got to be kidding?!! You think rock bottom has been hit? Wrong. Chaudhuri is buying it but won't come out for 5 years. Check the sales agreement. Definition section "affiliate". Hemet Community Medical Group, owned solely by Chaudhuri is the single largest investor along with its subsidiary, Menifee Community Medical Group. For profit hospitals will cut services that are deemed unprofitable, even if essential. Only the rich and the insured will be cared for. Don't think that Medi-cal is considered insurance. Don't think there will be much charity work. Don't think Chaudhuri is out of the picture. He is going from Manager to owner. The part in the sales agreement that excludes Chaudhuri doesn't exclude, rather makes an exception for him. Don't vote for the sale!!!
ReplyDeleteDon't be fooled public! This sale is bad for the community. It would be better if the "Board" would do what they were elected to do. They should get rid of the Management company and get a competent one, or just hire the CEO and other executives, who would not cut any deals with Chaudhuri and allow him to suck millions out of the hospital. Check the SALES AGREEMENT posted on the VHS website. It allows Select to take all of the Menifee Hospital Foundation money along with all of the Hemet Hospital Foundation money, that was donated by the community for themselves. This should not be allowed.
ReplyDeleteVHS or Valley Health Systems has been managed by VHS Management, a company with controlling interest by K. Chaudhuri. He has virtually bankrupted the hospital by poor managment as evidenced by the recent Press Enterprise article which documented his receiving a letter notifiying him of contract cancellation. Well, he is poised now by the "sales agreement" posted 2 days ago on the VHS website, to be allowed to "buy" the hospital but not be its manager. In 5 years, when the real estate becomes more valuable he will be allowed to be active in his purchase. This Board is allowing that to happen.
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