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Sharp demands Palomar repay $26 million after collaborative deal flatlines

Summary by San Diego Union Tribune
Already starved for cash, Palomar Health faces a demand from Sharp HealthCare to immediately repay $26 million — the principal and interest on a loan — or face a lawsuit alleging that it violated the terms of an exclusive negotiating agreement between the two parties. Palomar’s elected board of trustees met in closed session Thursday to discuss “significant exposure to litigation,” but reported no votes taken behind closed doors. A Sharp spokesm…

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Sharp demands Palomar repay $26 million after collaborative deal flatlines

Already starved for cash, Palomar Health faces a demand from Sharp HealthCare to immediately repay $26 million — the principal and interest on a loan — or face a lawsuit alleging that it violated the terms of an exclusive negotiating agreement between the two parties. Palomar’s elected board of trustees met in closed session Thursday to discuss “significant exposure to litigation,” but reported no votes taken behind closed doors. A Sharp spokesm…

·San Diego, United States
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Voice of San DiegoVoice of San Diego
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Morning Report: Palomar Health’s Borrowing

Amidst its ongoing financial distress, Palomar Health in North County has borrowed money from two other local hospital chains. But one of those loans has ruffled some feathers, as our Tigist Layne reports. In May 2024, Palomar borrowed $25 million from Sharp Healthcare and approved an “exclusivity arrangement.” More recently, Palomar borrowed $20 million from UC San Diego Health. Sharp didn’t seem to like that — even though it’s unclear exactly …

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Voice of San Diego broke the news in on Thursday, March 27, 2025.
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