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Marin General to receive $100M+ over 10 years under potential alliance with UCSF

UC San Francisco and Marin General Hospital are reportedly in the midst of finalizing a 10-year strategic alliance that would bring the Greenbrae, Calif., hospital more than $100 million during the next decade, according to Marinij.com.

A Marin General executive announced the initiative during a hospital board meeting March 28, stating, "UCSF will commit $110 million over the next 10 years. There will be a $20 million enterprisewide investment in Marin General, and then the other $90 million will be for projects that we jointly identify," according to the report.

The agreement would also allow UCSF to appoint two members to the hospital's board of directors, a move that would require approval from the Marin Healthcare District board, which oversees ownership of the hospital. The hospital's operations are governed by a second private board. Both are expected to vote on the proposed alliance by the end of April, the report states.

Lee Domanico, CEO of Marin General, said one of the potential projects may include updating the hospital's cancer center.

While UCSF's board of regents reportedly approved the deal, a Marin General spokesperson told Marinij.com the exact dollar amount of the commitment is still subject to change.

More articles on transactions and valuations:
WSJ: Ascension, Providence St. Joseph halt merger negotiations
CHS to sell 3 Tennessee hospitals
Jefferson, Einstein Healthcare Network to explore merger

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