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California  + Los Angeles  + Healthcare  | 

South LA Community Hospital Secures $22.5M Investment

Healthcare facilities are often seen as critical, community anchors. In that light, Martin Luther King, Jr. Community Hospital has secured a $22.5 million investment that is earmarked for expansion of its facility in South Los Angeles.

The investors include Stonehenge Capital, TELACU, Chase, and City First Bank. Classic Lake, LLC, a consulting and real estate investment firm focused on positive impacts and economic development within underserved communities, served as financial advisor to MLKCH helping to execute the investment.

The money for MLKCH comes through the federal New Markets Tax Credit Program –  a U.S. Department of the Treasury led program that seeks to support economically distressed communities in attracting private capital investment. . The hospital, according to a news release, hopes to expand its behavioral health team, in addition to expanding availability of health screenings, mobile health and nutrition programs.

MLKCH provides critical acute, preventive and community-based care for a community that faces a dearth of doctors, services and hospital beds. The funds will allow MLKCH to continue serving minority communities disproportionately impacted by COVID-19 due to chronic illness and disease.   

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Martin Luther King Jr. Community Hospital

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