News and Announcements

SVMD to Proceed with Offer to Purchase Assets of Five Verity Medical Foundation Clinics

SVMD is hopeful offer is accepted, allowing it to support continuity of care for patients

Mountain View, CA (February 14, 2019) — Silicon Valley Medical Development (SVMD) President Bruce Harrison released the following statement after the El Camino Hospital Board of Directors’ unanimously supported a resolution authorizing SVMD to submit an offer to purchase the assets of five health clinics currently owned by Verity Medical Foundation. The bid of $1.27M is for the assets, including furniture, equipment and electronic medical records, of five clinics located at:

  • 625 Lincoln Avenue, San Jose
  • 2585 Samaritan Drive, San Jose
  • 18550 DePaul Drive, Morgan Hill
  • 9360 No Name Uno, #125, Gilroy
  • 227 North Jackson Avenue, San Jose

“We anticipate that the SVMD offer will soon be filed with the bankruptcy court and if approved, SVMD will enter into a professional services agreement with the San Jose Medical Group for physician services at the new clinics. It is our goal to open new clinics in a timely manner to provide patients with continuity of high-quality of care from physicians they know and trust with as little disruption as possible.”

“SVMD’s mission is to deliver integrated health care services that best fit the needs of the patients, and this effort fits with that well. We are hopeful this plan becomes a reality to allow us to meet a community need through partnering with highly committed and like-minded providers who strive to improve clinical outcomes while simplifying the health care experience for all.”