Overlake Medical Center & Clinics and MultiCare Health System, both US-based non-profit healthcare systems, have entered an affiliation agreement aimed at enhancing healthcare services across the state of Washington.
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The partnership signifies a long-term commitment to delivering advanced healthcare and expanding local access to medical services in the region.
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As part of this agreement, Overlake along with its network of clinics will include the new North Sound region of a statewide network of MultiCare, serving as the flagship system of the North Sound region.
This strategic alliance also aims to address industry challenges and elevate care delivery by both organisations in their respective service areas.
In addition, the collaboration will establish a combined strategic, operational, financial, and clinical platform, positioning the organisations to better achieve their shared goals.
The transaction is currently subject to receipt of routine regulatory approval and other customary closing conditions. It is expected to close in the latter half of the current year.
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By GlobalDataAs part of the new North Sound region, Overlake will continue to serve King and Snohomish counties, reflecting its growing regional service area.
Significant investments are planned to support the healthcare needs of the communities in Eastside and North Sound, ensuring greater access to Overlake’s clinical care.
Besides, MultiCare has expressed a vested interest in extending the services of Overlake within the North Sound region while ensuring to maintain clinical performance.
Following the completion of the latest transaction, Overlake will retain its logo, name and local leadership, including its board of trustees, medical staff structure, leadership team, and foundation.
The local culture of Overlake as a community institution will be preserved, benefiting from the strengths of the new partnership. Donations to the Overlake Foundation will continue to support the local community.
The affiliation presents opportunities for mutual learning and shared best practices, enhancing healthcare provision throughout Washington state.
MultiCare CEO Bill Robertson said: “In Overlake, we have found a like-minded partner that shares our interests in advancing the health status of King County and beyond. We are excited for Overlake to join MultiCare’s network of 12 hospitals and 300 clinics across the Pacific Northwest.”
