California system to lay off 160 amid planned home health sale

California system to lay off 160 amid planned home health sale
Becker’s Hospital CFO Report
December 6, 2023
Walnut Creek, Calif.-based John Muir Health is laying off 164 employees in Concord ahead of a planned sale of its home health services division to Cornerstone Home Healthcare. John Muir announced in October that it would transfer its home health assets to a company currently owned by Cornerstone; that transaction is expected to close Jan. 1. Once the deal is closed, Cornerstone will be the majority owner and John Muir will operate a 40% minority stake, a spokesperson for the health system told Becker’s on Dec. 6. According to WARN documents filed with the state, 164 John Muir Home Health employees will be laid off by Dec. 29, but they have the opportunity to apply to the new company under Cornerstone.