PIH Health's pending acquisition of Downey Regional Medical Center has been approved by state regulators, hospital officials announced today. After a series of public hearings, California Attorney General Kamala Harris signed off on Downey Regional's application to become part of PIH Health.
"We are pleased to receive approval on the application," said Brian Smolskis, chief operating officer for DRMC. "However, it's important to note that PIH Health is continuing its due diligence, and the process to complete a transition from DRMC to PIH Health is still under way."
Assuming the deal is consummated, the hospital will be known as PIH Health Hospital - Downey.
PIH Health took over day-to-day operations of DRMC earlier this year.
"Since PIH Health entered the management services agreement with DRMC, we have made great progress in areas that were high priority," said Smolskis, who took over as COO when PIH assumed control of the hospital. "We have enhanced the hospital's revenue cycle management and subsequently improved cash flow by implementing more efficient processes for patient registration through collections. Also, an emergency department redesign aimed to improve patient flow, reduce wait times, and increase efficiencies is in development."