Woodland Hills Nursing Home Nears Deal With New Partner
A struggling nursing home located in Woodland Hills, CA is close to reaching a deal with an unidentified healthcare provider that would ensure the institution continues to operate.
In February, Motion Picture & Television Fund unveiled the Providence arrangement, under which the healthcare firm was to manage the famous Hollywood hospital and nursing home, according to The Hollywood Reporter. The deal fell apart over the summer as Providence didn't want to assume financial responsibility for the operations, the Times reports.
Since then, fund officials have been working to find another national healthcare company that would manage the nursing home and adjoining acute care facility.
"MPTF remains committed to keeping the long-term care facility open in Woodland Hills and expanding services available on campus,'' the Times quoted from a statement provided by the fund.
Under the proposed new deal, a new healthcare provider partner would assume financial responsibility for the hospital under a separate license, THR reports.
The new operating company would contribute $15 million to remodel part of the nursing home and hospital, with the fund committing another $10 million that would be defrayed through private donations, an unidentified source told the Los Angeles Times.