Victor Valley Community Hospital Sold

Victorville CA
October 16, 2012

Yesterday the sale of Victor Valley Community Hospital closed, after two years in chapter 11. The final sale price was $26.7 million and the buyer has also pledged $7.1 million from governmental payments to pay expenses and creditors’ claims, bringing the effective value to the estate of the sale to $33.8 million (compared to the original sale price at auction in November 2010 of $37 million). The distribution to creditors depends on large rejection damage claims still to be resolved, but could be as much as 100%.