Officials and union leaders of the regional co-op say the acquisition is a smart move for the future of the organization, according to the report. Opponents of the plan believe they don’t have enough information to make an informed decision, according to the report.
The co-op, which was once called radical and socialist for its integrated care and coverage when it was founded in 1947, has 27,000 registered voting members who must approve the deal by a two-thirds majority. A final vote is due by March 9.
If approved, Kaiser Permanente will pay approximately $1.8 billion to create a new nonprofit called Group Health Community Foundation. It would also agree to pay $1 billion over the next 10 years to upgrade facilities, add staff and improve technology and research in Washington, according to the report.
Eight town hall meetings have been hosted across the state to answer questions among the co-op’s members about the potential deal, according to the report. The acquisition contract is publicly available here.
More articles on transactions and valuation:
CHI St. Luke’s expands footprint in Texas
5 recent hospital transactions and partnerships
Jefferson and Kennedy Health explore merger
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.
