- Investment is part of UnitedHealth Group’s 20-year, $200 million California Health Care Investment Program
- Program helps health care organizations in California have access to capital
LANCASTER, Calif.--(BUSINESS WIRE)-- UnitedHealth Group invested $8.6 million in Antelope Valley Healthcare District to help the organization deliver quality health care services to residents in northern Los Angeles County.
UnitedHealth Group purchased Antelope Valley Healthcare District’s tax-exempt revenue bonds through the California Health Care Investment Program, which gives California health care entities access to capital at rates that are highly competitive with those of conventional financing. The California Health Care Investment Program is a 20-year, $200 million commitment to health care organizations that provide services to underserved, low-income and underinsured communities and populations throughout the Golden State.
Antelope Valley Healthcare District will use the funds for several capital projects at its Antelope Valley Hospital including construction of a new Cardiac Cath Lab Center to create a fully integrated cardiac “center of excellence,” expansion of MRI and CT services, renovation of the Outpatient Blood Draw Center, and seismic improvements.
Antelope Valley Hospital is a 420-bed acute care hospital that opened in 1955 and now serves the area’s 484,000 residents in the communities of Lancaster, Palmdale, Quartz Hill and Littlerock. The hospital provides a full range of health care services including emergency, physical and respiratory therapy, orthopedics, oncology, pediatrics, neurosurgery, mental health inpatient services and nuclear medicine.
“Thanks to UnitedHealth Group’s investment, the hospital will be able to complete much-needed capital improvements that will expand and improve health care services we provide to the residents in our community,” said Edward Mirzabegian, CEO, Antelope Valley Hospital.
“We appreciate UnitedHealth Group’s investment in these improvements that will benefit the patients, doctors and staff at AV Hospital and enhance access to quality health care for all of our Valley residents,” said Los Angeles County Supervisor Michael D. Antonovich.
“UnitedHealth Group is committed to investing in California’s health care infrastructure to help ensure that all Californians have access to quality care,” said Steve Nelson, West Region CEO, UnitedHealthcare Employer & Individual. “Antelope Valley Healthcare District plays a vital role in sustaining the health and well-being of so many people in northern Los Angeles County. We believe it is essential that they continue to have this important health care resource in their community.”
UnitedHealth Group’s UnitedHealthcare business offers health benefits, including commercial and Medicare health plans, to more than 2.8 million Californians, and partners with about 50,000 physicians and other care providers across the state.
About Antelope Valley Hospital
Celebrating more than 50 years of caring for the community, Antelope Valley Hospital, a facility of Antelope Valley Healthcare District, is a non-profit, 420-bed hospital that was founded in 1955. The hospital is dedicated to providing quality care and services to everyone in the Antelope Valley. AV Hospital is located at 1600 West Avenue J in Lancaster, California. For further information, please visit www.avhospital.org or call 661-949-5000.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a diversified health and well-being company dedicated to helping people live healthier lives and making health care work better. With headquarters in Minnetonka, Minn., UnitedHealth Group offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. Through its businesses, UnitedHealth Group serves more than 75 million people worldwide. Visit www.unitedhealthgroup.com for more information.
Matthew Yi, 714-226-3842
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