2014-07-31 ValleyCare’s Merger Agreement with Stanford Moving Forward
Pleasanton Weekly reports that plans to merge ValleyCare Sytem and its Pleasanton medical center into the Stanford University health care system are proceeding and on schedule. By merging with Stanford, ValleyCare could continue to deliver high quality heath care instead of focusing on their losses. Over the past five years, the hospital has lost an average of $3.5 million a year, with a total of $86 million in outstanding debt.
ValleyCare board of directors will soon vote on the proposition. The corporate members’ approval would be a major step in moving forward with the project. This approval would create Stanford’s first branch hospital.