Stand-alone Northwest Hospital and Medical Center, Seattle, will become a unit of the University of Washington’s UW Medicine health system in a deal that administrators say will not involve a financial transaction. The 187-bed Northwest will become the third acute-care hospital to merge into UW Medicine, Seattle. The transaction is expected to close Dec. 31. Currently the hospital is operated by a not-for-profit organization called Health Resources Network, which supplies management and is sole owner of the hospital. Under the new arrangement, a not-for-profit called UW Medicine/Northwest will be created as the sole owner of Health Resources Network, which will continue to provide management services under contract with UW Medicine. “There is no money changing hands, there is no change in our relationship with lenders, and bond covenants are still being met,” William Schneider, Northwest CEO, said. “We don’t believe the change will trigger a certificate of need.”
Late News: Seattle hospital joining University of Wash. system
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