UC Davis Medical Center in Sacramento and the nonprofit Dameron Hospital Association in Stockton, Calif., have announced they will not move forward with plans to pursue a joint venture.
After evaluating different partnership structures for two years, the hospitals have decided not to form a joint venture based on various factors, including changing community needs and each organization's respective mission and strategic priorities, according to a news release.
UC Davis and Dameron originally agreed to form a joint venture in 2012. The organizations planned to form Dameron Davis Management Company, a limited liability company, which would have owned and operated Dameron Hospital.
"Getting to know Dameron and the healthcare dynamics of the Stockton community has been a valuable experience for us," Ann Madden Rice, CEO of UC Davis Medical Center, said in the release. "While this joint venture will not go forward, we will work along with Dameron to seek ways to improve the quality of healthcare for the Sacramento and San Joaquin valleys."
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