Los Angeles County Board of Supervisors will consider a motion to purchase St. Vincent Medical Center with a focus on providing primary outpatient medical care
At its meeting on March 19, the Board of Supervisors will consider a motion introduced by 1st District Supervisor Hilda Solis which calls for the County to pay up to $120 million to purchase the 163-year-old hospital and its adjoining facilities via bankruptcy auction.
The hospital campus, which is located at the intersection of 3rd and Alvarado Streets, spans approximately 10.49 acres. Its centerpiece is a 300,000-square-foot hospital complex, which is surrounded by several smaller medical office buildings and laboratories.
The maximum $120-million price tag referenced by Solis’ motion is considered to be the fair market value of the property, according to an appraisal report commissioned by the County…
Solis’ motion refers to the St. Vincent site as an opportunity to create a “Health and Human Services Campus,” in a high-need area with few County services.