Watsonville Hospital is a general hospital in Watsonville, CA, a rural, agriculture community.
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From the newsroom
- Force 10 Partners Sell Watsonville Community Hospital and its Plan Becomes Effective, Securing a Fresh Start for the Long-Struggling Hospital
- Force Ten Partners Helps Secure Bankruptcy Court Approval of Sale of Watsonville Community Hospital and Position Long-Struggling Hospital for Financial and Operational Turnaround
Hospital is plagued by ongoing losses, while the community requires local care. Hospital district formation in process to facilitate a reorganization whereby the district will take over the facilities and operations.
Watsonville Hospital Corporation filed Chapter 11 bankruptcy due to poor management and liquidity issues. Force 10 was hired as the financial advisor to assist with the restructuring of the debtors as well as to facilitate the sale of the hospital. The hospital has been struggling financially for years and was on the verge of shutting down when a Force 10 partner was appointed Chief Restructuring Officer in September 2021. Force 10 was also engaged to provide financial and operational support and expertise to the hospital. Through our efforts, we were able to stabilize the hospital’s financial and operational challenges and lead the Chapter 11 bankruptcy process including successfully negotiated the Debtor in Possession financing and the sale to a newly formed healthcare district. Our efforts thusfar have enabled the hospital to remain open and continue providing much-needed healthcare services to its underserved community throughout the Chapter 11 reorganization.
