Avanti Hospitals has entered into a definitive purchase agreement to acquire Coast Plaza Hospital in Norwalk, Calif. It would be the fourth hospital in Los Angeles County owned by the company.
Through its affiliates, Manhattan Beach, Calif.-based Avanti owns or operates Memorial Hospital of Gardena, East Los Angeles Doctors Hospital and Community Hospital of Huntington Park. The Coast Plaza transaction is anticipated to close in early May.
"In today's healthcare market, the public is best served by larger, multi-hospital conglomerates who have access to the resources necessary to bring quality care to those in need," said Craig Garner, CEO of Coast Plaza, in a statement. "With this in mind, we expect Avanti will ensure that Coast Plaza continues to provide top-tier healthcare services under their aegis for many years to come."
Joel Freedman, Avanti's president, said Coast Plaza would continue to provide "uninterrupted access to healthcare, offering the same basic and emergency services" throughout the course of the transaction and beyond.
"We have been assured that nothing will change for our patients who are seeking care or scheduled for surgeries and other procedures," Garner said.
"Avanti's mission is to build a hospital system that stands as an innovative leader in quality of care, operational efficiency, patient satisfaction, financial strength and community contribution," Freedman said. "Considering its outstanding physicians and nurses, committed staff and terrific location, Coast Plaza Hospital is the perfect complement to our regional community hospital network."