The Snoqualmie Valley Hospital is one step closer to affiliating with a larger healthcare organization – something it’s been working toward for approximately five years.
One year after Board Commissioners voted unanimously to discontinue affiliation talks with Astria Health, based in central Washington, they signed a non-binding Letter of Intent to spend the remainder of 2019, once again, exploring an affiliation with Overlake Medical Center. The board previously explored affiliating with Overlake in 2014, but could not come to mutually agreed upon terms.
SVH Interim CEO Kim Witkop said, “Snoqualmie Valley Hospital (SVH) has been seeking a health system partner for several years to support and expand care delivery. On March 14th the SVH Board of Commissioners agreed to a non-binding letter of intent allowing for further exploration of a potential affiliation with Overlake Medical Center. On March 13th, the Overlake Board of Trustees had agreed to the same.”
Witkop further explained that Overlake and Snoqualmie Valley Hospital have worked together for many years, with a direct transfer agreement currently in place between the two emergency departments. SVH’s part-time cardiology and echocardiography services are also provided by Overlake on the SVH campus, as well as regular collaboration around rapid transitions from the SVH emergency department to the Overlake cardiac catheterization lab.
King County Public Hospital District #4 currently operates Snoqualmie Valley Hospital, which opened in 2015. The LOI means OMC and the district will continue discussions that would transfer all district healthcare operations to Overlake, including the lease of Snoqualmie Valley Hospital. All SVH hospital and clinics would be branded under the Overlake family of facilities.
According to the LOI, “The operation and licenses of the SVH hospital and clinics will move into a new 501c3 (Newco) whose sole member will be OMC. The New Hospital and other real assets, along with all currently existing debt, will remain with the District.”
Representatives of the hospital district and OMC will be meeting regularly to discuss details and work to reach an agreement on an affiliation transaction, including legal and financial terms.
You can read the full Letter of Intent, which is in effect until December 31st, HERE.