Reinventing Mission Community Hospital

After suffering a financial battering during the recession, Mission Community Hospital is in the midst of a multimillion-dollar upgrade as its new owner launches a major overhaul. Gregory J Wilcox in the Daily News.

Deanco Healthcare LLC of Beverly Hills is paying about $35 million for the Panorama City hospital in a three-stage process launched last year. Deanco started as a consultant, is now managing the hospital and will assume ownership in 2013 from San Fernando Community Hospital Inc.

Deanco has already added about 100 physicians and is spending nearly $5 million for high-tech equipment and capital improvements. When the sale is finalized the hospital will also switch from a nonprofit to for-profit status, which gives it more flexibility in accessing capital.