During its monthly meeting, the Lompoc Valley Medical Center Board of Directors approved the purchase of the Sansum Lompoc practice at 1225 North H Street. The board authorized CEO Jim Raggio to negotiate the purchase of the 15-year-old, 30,908-square-foot building and its interior assets for the projected purchase price of $8.75 million.
“The LVMC Board, in fulfillment of its mission to provide quality medical care to the Lompoc Valley, authorized our CEO to execute a purchase agreement for the building and practice of Sansum Clinic's Lompoc operations,” said Board Chairman Ray Down. “This will allow LVMC to solidify the physician coverage and stabilize primary care and urgent care for all residents of the District. We are pleased that the Board and Management have been able to operate, over the past years, in such a manner that we are able to make this purchase and ancillary transaction from existing cash reserves, with no additional financing required.”
Down said the Board looks forward to a continuing collaboration with both Sansum Clinic and Cottage Health to provide specialty care in Lompoc and through the existing referral network with Santa Barbara specialists.
“The transition provides stability to a quality physician network and assures our community maintains access to local high-quality healthcare services,” Raggio said. “Additionally, it preserves more than 50 jobs in Lompoc and strengthens the referral base for LVMC. We will continue to partner with Sansum Clinic and Cottage Health, which provide specialty care not available in Lompoc. The community, Sansum Clinic and LVMC all win with this transition.”
Escrow is expected to be finalized by January 2, 2019. Once completed, the transition will include the employment of 50 non-clinical full-time and two part-time Sansum employees.
Up-to-date Information About
Transition of Sansum Services
It is our primary goal to provide all Lompoc Sansum patients with a smooth and seamless transition.