Motion Picture Nursing Home Nears Deal With New Partner (Report)
Hollywood's most famous nursing home, located in Woodland Hills, has been fighting to stay afloat after the collapse of an arrangement with Providence Health.
NEW YORK - After an agreement with hospital chain Providence Health and Services fell apart, the Motion Picture & Television Fund is close to a deal with an unidentified healthcare provider that would ensure that its nursing home continues to operate, the LA Times reported.
Hollywood's most famous nursing home, located in Woodland Hills, has been fighting to stay afloat amid recurring financial and other challenges in recent years.
In February, the fund unveiled the Providence arrangement, under which the healthcare firm was to manage the hospital and nursing home. The deal fell apart over the summer as Providence didn't want to assume financial responsibility for the operations, the Times said.
"MPTF remains committed to keeping the long-term care facility open in Woodland Hills and expanding services available on campus,'' the Times quoted from a statement provided by the fund.
Under the proposed new deal, a new healthcare provider partner would assume financial responsibility for the hospital under a separate license, according to the Times. The company would also pay a fee to lease hospital beds.
The fund hopes that this along with greater efficiencies, continued cost cutting within the fund and private donations will put the fund on better financial footing, the Times said.