KPC Group gets court approval to acquire four Verity hospitals

A bankruptcy court judge has approved Corona-based KPC Group’s $610-million bid to acquire four of the nonprofit Verity Health System hospitals, including two in Southern California, KPC Group said Wednesday.

Verity’s board of directors had approved KPC Group’s bid Monday, but the state attorney general’s office still must sign off on the acquisition.

 

The four hospitals included in the KPC Group bid are St. Francis Medical Center in Lynwood, St. Vincent Medical Center and St. Vincent Dialysis Center in Los Angeles, Seton Medical Center in Daly City and Seton Coastside in Moss Beach.

 

Verity’s six hospitals were originally owned and operated by the Daughters of Charity of St. Vincent de Paul. After years of financial struggles, Integrity Healthcare took over management of the hospitals in 2015.

 

In August, Verity filed for bankruptcy protection, citing mounting losses and debt.