New owners KPC Health rescues Seton Medical Center from brink of shutting down

South San Francisco, CA   April 18, 2019 Submitted by the Office of SMC Supervisor Canepa

San Mateo County Supervisor David J. Canepa made the following statement today following the announcement by KPC Health that U.S. Bankruptcy Court Judge Ernest M. Robles approved the Asset Purchase Agreement for KPC’s Strategic Global Management to acquire Seton Medical Center in Daly City, Seton Coastside in Moss Beach and two hospitals in southern California owned by Verity Health. KPC has acquired the hospitals from Verity for $610 million.

“KPC has committed to keeping these hospitals open and that’s incredible news for Seton’s employees and the tens of thousands of mostly vulnerable patients in San Mateo and San Francisco counties they care for each year,” Canepa said. “Now we have a prospective owner with a proven track record in California of operating and revitalizing multiple hospitals. I’m relieved for the patients who rely on Seton for quality health care and am optimistic the new owner will respect the conditions set by the state Attorney General’s Office that mandate Seton remain a full-service hospital with emergency services until 2025.”

Verity filed for bankruptcy Aug. 31. The hospitals were previously owned by the Daughters of Charity. Canepa formed a bi-county working group in 2018 with stakeholders from San Francisco and San Mateo counties with a sole effort to save the hospital. The court-approved bid will now be submitted to the state Attorney General’s office for approval.

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