A proposed joint venture between Valley General Hospital in Monroe, Wash., and Capella Healthcare has bumped other local hospital contenders out of the running, according to a Herald report.
Valley General had said it was in business deal discussions with Providence Regional Medical Center Everett four months ago. Valley officials said it began to seek other business partners after talks stalled with Providence.
Franklin, Tenn.-based Capella is promising Valley $30 million in capital along with a 40-year business agreement. Under the deal, Capella would lease the hospital in a joint venture with the hospital district, which would then buy a stake in the new organization. If the deal is approved, the hospital would still be able to seek partnerships with other providers for specialty medical services, according to the report.
Read the Herald report on Valley General Hospital and Capella Healthcare.
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