Verity Health System, a nonprofit healthcare organization, today announced the appointment of Mark S. Fratzke, DNP, as President and Chief Executive Officer of Seton Medical Center and Seton Coastside, both parts of Verity Health. The dual health care centers serve patients and communities in San Francisco and northern San Mateo Country. (Business Wire)
NantWorks, the Culver City company controlled by billionaire physician Patrick Soon-Shiong, has taken over the operator of half a dozen California hospitals, including St. Vincent Medical Center near downtown Los Angeles and St. Francis Medical Center in Lynwood.
NantWorks acquired a controlling stake in Integrity Healthcare, which in 2015 took over management of six hospitals from the struggling nonprofit Daughters of Charity Health System. The hospital chain now goes by the name Verity Health. (Los Angeles Times)
Desperate for a deal to save its beleaguered hospitals, Bay Area-based Daughters of Charity Health System was left at the altar this spring when California’s Attorney General told its prospective new owner it must keep most of the hospitals open for at least 10 years.
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