Howard University Hospital in Washington, D.C., has hired a financial advisory firm to help the hospital hunt for a potential buyer or partner, according to a Washington Business Journal report.
In the fiscal year ended June 30, the 482-bed hospital lost $21 million. Raymond James & Associates released a prospectus that said Howard University Hospital is seeking other hospital partners for deals such as an "asset purchase, joint venture, joint operating agreement, long-term lease/management, management agreement, network development, etc.," according to the report.
The document also outlined several of the hospital's pros and cons. Pros included disproportionate share hospital funds and location, while cons included few patients with commercial insurance and a diminishing market share, according to the report.
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