Practices
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%.