UC Regents Endorse Medical Center Action
Members of the University of California Regents meeting in Westwood on Thursday gave preliminary approval to UC San Francisco Medical Center to acquire the financially troubled Mt. Zion Medical Center.
Three regents’ committees, after a lengthy debate, also endorsed issuing more than $40 million in revenue bonds for construction, property purchases and paying off the nonprofit hospital’s current debt of about $11 million.
Many regents expressed concerns that they would be acquiring an acute-care hospital that already is losing money in an era of soaring health care costs. But medical center officials said the acquisition of Mt. Zion, which already collaborates extensively with the medical school, is critical to maintaining the excellence of the university.
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