From Bad to Worse

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healthcare finance newsThe financial condition of the Daughters of Charity Health System in California continues to worsen. The hospital chain has been for sale for some time and had lined up a buyer, only to be thwarted by SEIU and their ally, Attorney General Kamala Harris. SEIU hated the buyer and leaned on Harris until she imposed so many conditions on the sale that the buyer walked away. The hospital still has debt of over $280 million, has had to lay off hundreds of workers, and has only 20 days’ worth of cash on hand.