Verity Health System: KPC Global seeks OK to bid on Seton assets

By Caroline Salls

Pittsburgh, March 26 – KPC Global Medical Center of San Mateo County, LLC is seeking an opportunity to bid on Verity Health System of California, Inc.’s Seton Medical Center and Seton Coastside facility, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Central District of California.

KPC said based on a Verity motion to approve a transaction with the State of California involving Seton, Verity may, in the very near future, be filing a motion to approve a sale of Seton.

According to Wednesday’s motion, the court has stated that KPC’s qualifications to bid would become moot if Verity chose to proceed with a private sale.

“[KPC Global] believes that opening the sale process to competitive bidding would be in the best interests of all parties in interest in the debtors’ cases as well as in the interests of the San Mateo community, the Seton employees and health care practitioners,” the motion said.

In addition, KPC said if it is allowed to participate in an open sale process, it will demonstrate that it can provide substantial economic value to the Verity estates and professional management to Seton “that is vital to addressing the current Covid-19 health care crisis and long-term needs of Seton and the community it serves.”

Verity is a Los Angeles-based nonprofit health care system. The company filed bankruptcy on Aug. 31, 2018 under Chapter 11 case number 18-20151.

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