Blakespear Applauds Funding for Tri-City Medical Center in Oceanside
The state’s $33.2 million no-interest loan will help the medical center continue operating and remain an asset for the community
SACRAMENTO – Sen. Catherine Blakespear, D-Encinitas, on Friday praised state funding being provided to the Tri-City Medical Center in Oceanside to help it continue operating and providing valuable health care services to surrounding communities.
Tri-City will receive a $33.2 million, no-interest loan through the state’s Distressed Hospital Loan Program, which was established earlier this year to assist hospitals across the state that are having financial problems. It is the largest of the 17 loans the state is providing through the program.
“Tri-City Medical Center and the services it provides are hugely important to North San Diego County residents,” Blakespear said. “The medical center is a community resource, and this loan will help it weather its current storm and get its finances back on sound footing.”
Tri-City Medical Center has taken significant steps to address its current financial troubles, including suspending the hospital’s labor and delivery department due to low usage. Increases in labor and supply costs have hurt the medical center’s budget.
Acknowledging that Tri-City Medical Center's financial challenges are a temporary concern, the state’s loan serves as a vital bridge, enabling the medical center to implement its strategies and establish a sustainable plan.
"We recognize the financial difficulties we've faced, and we're taking proactive measures to ensure our hospital's sustainability," said Dr. Gene Ma, President and CEO of the hospital. "This loan will play a pivotal role in enhancing our ability to maintain high-quality health care services for our patients."
Tri-City Medical Center has a long-standing history of serving the North San Diego County cities of Oceanside, Carlsbad and Vista, and the loan will help the hospital adapt to changing circumstances while upholding its commitment to patient care.
“We remain focused on implementing strategies that will allow us to navigate these financial challenges and emerge stronger than ever,” Ma said. "We extend our heartfelt appreciation to the state of California for demonstrating unwavering confidence in our turnaround plan.”
The Distressed Hospital Loan Program is providing about $300 million to 17 different health care facilities across California. Go here to read the full list.
Elected in November, Blakespear represents Senate District 38, which covers northern coastal San Diego County and part of Orange County. To learn more about the district and Blakespear, visit her Senate website.
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