Today, Universal Health Services (UHS) and The George Washington University (GW) announce restructured terms of their long-standing partnership agreement and investment in The George Washington University Hospital (GW Hospital).
Since July 1997, GW Hospital has been jointly owned and operated by a partnership between GW and a subsidiary of UHS, one of the nation's largest hospital and healthcare services companies. Historically, UHS has held an 80 percent interest and the university has held a 20 percent limited partnership interest in GW Hospital. Under the restructured agreement, UHS becomes the sole owner of GW Hospital by purchasing the 20 percent minority interest from GW and a new partnership affiliation is created based on the modern structures and shared programming widely practiced in premier academic healthcare systems across the nation. The GW Medical Faculty Associates (GW MFA) and the GW School of Medicine and Health Sciences (GW SMHS) will continue to serve as the exclusive clinical and academic arms, positioning both GW and GW Hospital for clinical excellence, growth and stability in the dynamic academic healthcare landscape.
“UHS is committed to creating a destination academic medical center that supports the shared mission, vision and goals that all our organizations have in achieving excellence,” says Marc D. Miller, president and chief executive officer of UHS. “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 partnership has resulted in many important accomplishments at the GW Hospital, including elite designations as a Level I Trauma Center and a Comprehensive Stroke Center, among others. Additionally, there is a shared commitment to enhancing access to care through community health screenings, wellness events and health equity initiatives.
“For nearly 25 years, GW and GW Hospital have worked together to foster the health and well-being of those in the District, Maryland, Virginia and beyond,” says Mark S. Wrighton, PhD, president of GW. “The revised arrangement not only resets the decades-long partnership to create a stronger, more sustainable foundation for both organizations to step into the future, but it also reignites a shared enthusiasm to expand and enhance excellent care for our patients and the citizens of our region.”
In the ever-changing healthcare landscape, academic medical centers across the nation, including GW, are facing unique challenges due to the pandemic. “We understand these challenges and we are committed to being innovative in how we can overcome them and continue to improve and advance healthcare for our community,” says Kimberly Russo, MBA, MS, Group Vice President for the Washington, D.C. Region of UHS. “This modernized model can be a leading example in how to better structure an academic medical partnership that allows us to be financially sustainable, while also achieving excellence in quality, research and education.”
“Advancing healthcare education and research is core to the mission of GW SMHS and the GW Medical Faculty Associates,” says Barbara L. Bass, MD, vice president for Health Affairs, dean of the GW SMHS, and chief executive officer of GW MFA. “Through this restructure, we will develop centers of excellence that support our mission and shared goals. It will also enable us to advance our mission as a high-performing, academic medical center to serve our region.”
A certificate of need for UHS’ purchase of GW’s minority interest will be submitted to the District’s State Health Planning and Development Agency on May 31, 2022.
About Universal Health Services
Headquartered in King of Prussia, PA, UHS has approximately 89,000 employees and through its subsidiaries operates 26 acute care hospitals, 334 behavioral health facilities, 39 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 38 U.S. states, Washington, D.C., Puerto Rico and the United Kingdom. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT). For additional information on the Company, visit uhs.com.
About The George Washington University
In the heart of the nation’s capital with additional programs in Virginia, The George Washington University was created by an Act of Congress in 1821. Today, GW is the largest institution of higher education in the District of Columbia. The university offers comprehensive programs of undergraduate and graduate liberal arts study, as well as degree programs in medicine, public health, law, engineering, education, business and international affairs. Each year, GW enrolls a diverse population of undergraduate, graduate and professional students from across the United States and around the world.
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