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Providence Withdraws From Yakima Valley Memorial Hospital Bidding

Renton, Wash.-based Providence Health & Services, in partnership with Seattle-based Swedish Health Services, has decided to drop out as a potential partner for Yakima (Wash.) Valley Memorial Hospital, according to a Yakima Herald-Republic report.

In October, Yakima Valley Memorial announced three organizations had submitted proposals to create a strategic affiliation with the 226-bed hospital: Providence/Swedish, Virginia Mason Medical Center in Seattle and the collaboration of Vancouver, Wash.-based PeaceHealth and the University of Washington Medicine in Seattle.

Colleen Wadden, director of external communication for Providence, told the Herald-Republic that Providence and Swedish decided to back out due to "other priorities." Her full statement is included below:

"Providence Health & Services and Swedish Health Services has withdrawn its proposal from consideration by Yakima Valley Memorial Hospital. Providence serves communities across five states, and at this time, other strategic work is taking priority. We feel confident, however, that the other responding organizations will be able to adequately assist Yakima Valley Memorial Hospital in expanding healthcare services for the community. We regularly explore partnerships that will would help us improve quality, reduce the cost of care and enhance patient experience, and there is the opportunity that in the future we could discuss a partnership."

Yakima Valley Memorial officials are expected to make a decision by next summer.

More Articles on Hospital Transactions:
Conemaugh Health System Looks to M&A Market
PeaceHealth, Cascade Valley Hospital Enter Affiliation Deal
Report: Q3 Hospital Transaction Volume Up 58.3%

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