The joint venture, called The Alliance for South Sound Health, will begin construction on the freestanding, 120-bed hospital this summer. Officials expect to complete construction by 2018.
The facility will be able to house roughly 5,000 patients per year and will accept voluntary and involuntary admissions, the report states.
The behavioral health hospital will be located on MultiCare Allenmore Hospital’s campus in Tacoma.
More articles on transactions and valuations:
63 recent hospital transactions and partnerships in May
Physicians group defends $2.4B offer for Lutheran Health Network
Mount Sinai, CHOP collaborate on fetal medicine program, cardiac care
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.