This community opinion was contributed by Robert Bernosky. The opinions expressed do not necessarily represent BenitoLink or other affiliated contributors. BenitoLink invites all community members to share their ideas and opinions. By registering as a BenitoLink user in the top right corner of our home page and agreeing to follow our Terms of Use, you can write counter opinions or share your insights on current issues. Lea este artículo en español aquí.
On September 9, 2024 I submitted a public records request for all the financial information, communications, and other information that was reviewed by the San Benito Health Care District and their advisors in connection with evaluation the abilities of Insight to operate Hazel Hawkins Hospital and meet current and future obligations.
While California’s public record laws require that the hospital provide requestors with the information they want within 10 days, I did not receive anything until October 23. What you can see in the nearby picture is the meat of their response. A blacked out “letter of support” from an unknown sender. No letter of credit, loan commitment, bank account statements, financial statements, or any other indication of the financial health of Insight or the mystery “supporter”. Just think about what buyers of homes are typically required to produce: preapproved mortgage, mortgage commitment, credit checks, proof of funds for the down payment. Apparently the Hospital Board thinks handing over our $300 million hospital is not worthy of any due diligence.
Curiously, I also received a PowerPoint presentation. It appears to be written after the Hospital Board approved the term sheet with Insight. Since the Hospital was responding to my specific request about something that occurred in the past (July 26), how could the presentation include operating data for August and September? I was looking for the information that they used to determine Insight was the chosen acquiror when they did it.
The PowerPoint also includes a lot of information that seems to be incorrect, especially on how many hospitals they actually operate. To the best of my knowledge they are not operating anything in Iowa, they are laying off 2,602 employees in New Jersey, and I see no purchases in Warren, OH.* While I am not going to bore you with all the details, this seems characteristic of the way they operate: they way overstate who they are and what they have done. When one does dig in for the details, they are not found and no one seems to want to help the owners of Hazel Hawkins Hospital, us, to find them.
Between the Bankruptcy court not only kicking the San Benito Health Care District out but significantly admonishing it for their weird filings and conflicting testimony, and with Hazel Hawkins Hospital incredibly stable today, there is no hurry to give the Hospital Board and the Administration of permission to sell. Let’s wait for a new hospital board and the weirdness to go away. Vote No on X.
Editor’s Note: BenitoLink has not confirmed this.
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