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PBGC to take over two Verity Health pension plans

The Pension Benefit Guaranty Corp. is taking over two pension plans sponsored by Verity Health System of California, a bankrupt non-profit that is being acquired by the KPC Group. The Verity Health System Retirement Plan A is estimated to be 52% funded, with $306 million in underfunding, while the Verity Health System Retirement Plan B

KPC Health Founder, Chairman Receives ‘Above and Beyond’ Award From Crime Survivors

CORONA, Calif., Aug. 15, 2019 (GLOBE NEWSWIRE) -- Dr. Kali P. Chaudhuri, Founder and Chairman of the KPC Group and KPC Health, was recently presented with the “Above and Beyond” award from the Southern California based non-profit, Crime Survivors.  Crime Survivors’ mission is to provide hope and healing to victims and survivors of crime through advocacy and the support

KPC Group Announces Dr. John Heydt as Chief Clinical Officer of KPC Health and Chief Executive Officer of Apex Medical Group

CORONA, Calif., Aug. 06, 2019 (GLOBE NEWSWIRE) -- Today KPC announced the appointment of Dr. John A. Heydt as Chief Clinical Officer (CCO) of KPC Health and Chief Executive Officer (CEO) of Apex Medical Group, a subsidiary of the KPC Group.  Dr. Heydt is a nationally renowned physician executive and has significant experience in the Southern California

KCP Global Health Care Center in Hemet Welcomes New Physician Residents

Thirty-five recently graduated medical and osteopathic doctors received their white coats in special ceremonies, June 28, at the KPC Health Center in Hemet officially recognizing them as physicians beginning their one to three year residencies in their chosen specialties. The new doctors come from top rated medical schools in the United States and across the

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

KPC’s Chaudhuri Aims For Kaiser-Like Integration

KPC Group founder Kali Chaudhuri is attempting to do what a private capital firm, a nonprofit charity, and Los Angeles’ wealthiest person couldn’t—turn around a struggling regional hospital system.  The Business Journal reported last month that Chaudhuri’s KPC planned to pay $610 million to acquire assets of bankrupt Verity Holdings LLC, a Redwood City-based firm

Promise Hospitals in Baton Rouge sold to California company

Southern California health care business KPC Health has acquired Promise Hospital of Baton Rouge, a former subsidiary of Promise Healthcare, a Boca Raton, Florida-based hospital business. Promise Healthcare Group’s hospital network across Louisiana was acquired several months after it filed for bankruptcy protection in 2018. The network was split between  KPC Health and Lexmark Holdings.

Filipinos Breathe Sigh of Relief as Daly City Hospital Finds New Owners

DALY CITY, California — In a town hall meeting after Seton Medical Center management filed for bankruptcy in August 2018, Girlie Macaraig, a registered nurse in Seton Medical Center for 40 years and her colleagues feared what could happen in the next months as a new owner was being. “The patients too were scared as Seton

Seton Sale Overcomes Big Hurdle

Nearly three months after a bid to acquire Seton Medical Center in Daly City and Seton Coastside in Moss Beach was filed in federal bankruptcy court, Southern California-based KPC Health announced its $610 million bid for four hospitals was approved by U.S. Bankruptcy Court Judge Ernest M. Robles Wednesday, according to a press release issued