George Washington University has sold its 20 percent minority interest of George Washington University Hospital to Universal Health Services, making the health system the sole owner of the hospital.
The Washington, D.C., hospital has been jointly owned and operated by the university and King of Prussia, Pa.-based UHS since 1997, according to a May 28 news release from the university.
The GW Medical Faculty Associates and the GW School of Medicine and Health Sciences will still provide exclusive clinical and academic services.
"UHS is committed to creating a destination academic medical center that supports the shared mission, vision and goals that all of our organizations have in achieving excellence," Marc Miller, president and CEO of UHS, said in the news release. "We are confident that through this restructured partnership, we will be able to mutually meet our quality-of-care goals while also growing our integrated delivery model and further expanding access to care."
The two organizations will submit a certificate of need for the deal to the District of Columbia's State Health Planning and Development Agency on May 31.