Bellevue, Wash.-based Overlake Medical Center & Clinics has signed an affiliation agreement with Tacoma, Wash.-based MultiCare Health System, building upon the longstanding relationship between the two organizations.
Overlake Medical Center and its affiliated clinics will become the flagship health system for MultiCare's newly created North Sound region. Overlake will retain its name and logo as it becomes part of the MultiCare system. The two organizations aim to expand local access to care, community investment and advance quality initiatives.
The two health systems agreed to commitments for a stronger strategic, financial, operational and clinical platform. Overlake will keep its board of trustees, leadership team and medical staff structure intact. The Overlake Foundation will continue to funnel any gifts to support the local Overlake community.
The transaction is subject to regulatory approval and the health systems expect to complete the deal in the second half of this year.
"For more than six decades, Overlake Medical Center & Clinics has served the eastside and Puget Sound communities, and I am confident that this is the right next step for our health system," said J. Michael Marsh, president and CEO of Overlake Medical Center & Clinics. "In fact, one of our reasons for pursuing an affiliation with MultiCare was to ensure the ongoing fulfillment of our mission for decades to come. As we move forward, we will be led by our guiding principles that keep patient care and the local community at the forefront."