Escondido, CA

Hospital deal falls through

Several weeks ago the Palomar Health hospital district made it known that it would soon be announcing the sale and development of the old hospital campus. Just as suddenly, nothing was announced and the district clammed up about what had happened.

Finally, Monday night the district board released this statement that provided an explanation of what had transpired:

“Last year, Palomar Health began the process to sell the Palomar Medical Center Downtown Escondido campus.  Several months ago, we received six bids for the 14-acre property. We had narrowed those bids to one buyer and began due diligence. We have been in constant discussion with the buyer during this time. We had hoped to announce a final agreement soon, but unfortunately the identified buyer has chosen not to move forward with the purchase.

“Our broker is currently in discussions with several of the other interested bidders. While very disappointing, we are confident that Palomar Health will receive full value for the property. We are comfortable that the other bidders’ plans will be compatible with the City of Escondido’s vision for the property.

“In the meantime, we will continue working on the thoughtful transition of services out of the Downtown Escondido campus to our other facilities. “

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