MARTINEZ, Calif. (AP) — A California hospital may remain open with a bridge loan of $6 million after county officials approved the plan.
The Contra Costa Times reports that Contra Costa County supervisors voted 4-to-1 to transfer $6 million in property tax revenue to Doctors Medical Center in San Pablo so that it can stay open for the next few months while hospital officials come up with a more permanent rescue plan.
The loan represents a third of the hospital's $18 million deficit, the Times reports.
Officials at the hospital had said that they would have to close it if they didn't get an infusion of cash, depriving the community of 25 of its 40 emergency beds.
They are hoping that the money will give them time to plan a downsizing of the facility.©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.