OJAI VALLEY : Idaho Investment Firm Buys Hospital
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An Idaho investment company has purchased Ojai Valley Community Hospital in a move that officials say will increase financial stability and improve services at the privately run facility, which had been in Chapter 11 bankruptcy.
Lapesch and Co. purchased the hospital for an undisclosed price after more than a year of discussions with the former operators, Western Hospital Affiliates.
“The hospital was financially successful two years ago, but it is only marginally successful now,” said Dr. LeRoy A. Pesch, Lapesch chairman and chief executive officer, who said the hospital’s financial condition can be turned around.
Pesch said no staff layoffs are planned.
“We will assess the needs over the next 30 to 60 days,” said Pesch, whose company has also acquired hospitals in Palmdale, Seattle and Florida.
Pesch hopes to increase the outpatient care as well as increase both home care and supportive care for the elderly.
“We want to provide full-service acute care and reorganize for patients who live in Ojai,” Pesch said.
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