Parties in Los Gatos Hospital Acquisition Agree on Terms Allowing El Camino Hospital an Early Close of Escrow

Re-opening now scheduled for mid-July; existing medical equipment to be acquired as part of purchase

MOUNTAIN VIEW, Calif., March 17 /PRNewswire/ -- In a presentation to the Los Gatos Town Council last evening, El Camino Hospital officials announced that the property owner, Tenet and El Camino Hospital had signed agreements that will allow an early close of escrow on the Community Hospital of Los Gatos acquisition. The agreements will allow El Camino Hospital to gain access to the hospital April 11 instead of June 1, seven weeks earlier than previously announced. Parties had sought the agreements in order to reduce the time the Los Gatos site would be closed. With a minimum of 90 days from close of escrow needed to prepare the hospital for reopening, El Camino Hospital officials told council members that they are targeting a mid-July opening.

In addition to the land and buildings, El Camino Hospital is acquiring more than 6,600 items of medical equipment that currently exist at Community Hospital of Los Gatos for use when El Camino Hospital begins operations at the Los Gatos location.

The cost of the equipment is included in the total purchase price of all the assets -- land, buildings and equipment.

Many Clinical Services Already Determined

Hospital officials also confirmed some of the services that the Los Gatos location will offer, including acute care services such as emergency, medical, surgical, intensive care and labor and delivery services. Orthopedics and spine services will also be among those offered at the Los Gatos campus.

"We are committed to opening the Los Gatos site as soon as possible and the completion of the purchase will jump-start our activation process," said Eric Pifer, M.D., chief medical officer, El Camino Hospital, and incoming president of the Los Gatos location. "The medical equipment purchase is also an important milestone, as it will help us more quickly determine the new infrastructure for this second location in Los Gatos. We hope to open the facility as early as mid-July."

Liaison Office Open to Public

The activation team has been meeting with South Bay physicians to help determine the full scope of clinical services that will be offered at the Los Gatos campus. These questions and others are being addressed at the new liaison office located at 825 Pollard Road, in Los Gatos. The office is set up to serve as a community resource for South Bay physicians, potential employees and members of the community who have questions about the activation plans for the hospital's new Los Gatos location. The office staff is available to answer questions and provide updated information during normal business hours. Staff can also be reached by phone at 650-962-4949.

El Camino Hospital to Participate in Los Gatos Job Fair

El Camino Hospital will be among the area hospitals participating at a job fair to be held at Community Hospital of Los Gatos on Tuesday, March 24, from 11 a.m. to 4 p.m. Tenet, the current hospital operator, is hosting the fair as part of its outplacement effort.

Those interested in future openings with El Camino Hospital's Mountain View or Los Gatos campus can send resumes to hr@elcaminohospital.org with "Los Gatos" in the subject line or visit El Camino Hospital's Job Finder at www.elcaminohospital.org to view current job opportunities. Physicians are encouraged to call the physician hotline at 650-988-7698. More information about El Camino Hospital's medical staff is available at www.elcaminohospital.org/medstaff.

To learn more about this acquisition, please visit our online newsroom at: www.losgatoselcamino.org or call 1-888-650-5124.

About El Camino Hospital

Established in 1961, the 399-bed, not-for-profit El Camino Hospital has delivered the highest level of medical services to the community for more than four decades. Its quality programs and high customer satisfaction rankings have been recognized locally and nationally. Since 2005, HealthGrades, a national rating company, has named El Camino Hospital a Distinguished Hospital for Clinical Excellence, placing it in the top 5% of hospitals nationwide. El Camino Hospital is one of only 14 hospitals in California designated as a nursing magnet hospital by the American Nursing Credentialing Center. Specialties include cardiac care, dialysis, cancer care, maternal child health services, orthopedics, neurosurgery and behavioral health. The hospital is also recognized as a national leader in the use of health information technology to promote patient safety, including computerized order entry, electronic medical records and wireless communications.

To learn more about El Camino Hospital and its services, visit our web site at http://www.elcaminohospital.org/

SOURCE El Camino Hospital



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