UnitedHealth Group Purchases $15 Million in Tax-Exempt Obligations from Northern Inyo Hospital to Enhance Access to Health Care Services in Inyo County
Part of UnitedHealth Group’s 20-year, $200 million California Health Care Investment Program
BISHOP, Calif. – Northern Inyo Hospital received $15 million in capital from UnitedHealth Group (NYSE: UNH) and its PacifiCare of California subsidiary to further the hospital’s efforts in delivering quality, affordable health care services to the rural communities it serves in Inyo County.
The $15 million purchase of Northern Inyo Hospital’s tax-exempt bonds is part of UnitedHealth Group’s California Health Care Investment Program, a 20-year, $200 million commitment to provide access to capital for health care entities providing services to underserved, low-income and underinsured communities and/or populations throughout the Golden State.
Established in 1946 and accredited by the Joint Commission and the American College of Radiology, Northern Inyo Hospital is a full-service, 25-bed critical access not-for-profit district hospital providing quality health care in the Eastern Sierra.
“Northern Inyo County Local Hospital District was the very first hospital district created in the state of California. Today we are enhancing our commitment to providing access to quality care by expanding our emergency care services, upgrading medical technology and facilities, and improving outpatient services including radiology and surgery. We thank UnitedHealth Group for helping us continue meeting the vital health care needs of our communities,” said John Halfen, CEO of Northern Inyo Hospital.
“UnitedHealth Group is committed to investing in California’s health care infrastructure to help ensure that everyone, especially underserved populations and people who live in rural areas, have access to quality care. We are pleased to be able to help Northern Inyo Hospital continue to meet its community’s health care needs, and we believe it is essential that Inyo County residents continue to have this important health care resource in their community,” said Steve Nelson, CEO, Western Region of UnitedHealthcare.
UnitedHealth Group offers health benefits, including commercial and Medicare health plans, to more than 3 million Californians, and partners with about 50,000 physicians across the state.
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