Howard University News December 18, 2014 Howard University Partners with District of Columbia and Paladin Healthcare Capital to Operate United Medical Center Howard University President Wayne A.I. Frederick announced he has signed a "letter of intent" (LOI) to enter into a collaborative agreement with the District of Columbia and Paladin Healthcare Capital, LLC, to transform the United Medical Center (UMC) in Southeast D.C. Dr. Frederick joined Mayor Vincent C. Gray, Paladin President Joel Freedman and UMC Board Chairman Bishop Charles M. Hudson Jr. at the signing. Also present were officials from Huron Healthcare, a turnaround company engaged by the District's Department of Health Care Finance (DHCF) to address UMC's operational and financial management issues, who facilitated the negotiations with UMC's Board of Directors leading to the collaborative agreement. "We are pleased to sign this letter of intent with the District of Columbia," Dr. Frederick said. "The opportunity to join partners and find a solution within an integrated healthcare system framework is key. We are an academic medical center with a mission focused on high-quality education and high-quality care for those who otherwise wouldn't receive such care." Dr. Frederick said Howard would utilize its cadre of physicians to bring comprehensive, integrated health care to the citizens of Wards 7 and 8. Howard University currently has an agreement with Paladin covering day-to-day management of the Howard University Hospital. Under that agreement, Howard University continues to be the licensed operator of HUH. "Today we have reached a milestone that will bring better hospital and preventive health care services to the East End of the city," Mayor Gray said. "The long-term success of UMC ultimately requires the hospital to enter into meaningful collaborations that facilitate the expansion of the hospital's physician base, clinical portfolio, and market share. This collaborative agreement aligns with the plan and strategic direction that I envisioned for UMC to become financially sustainable and a premier center for health care. As we enter into this new phase for the hospital, I want to thank the UMC employees for continuing to work to provide improved hospital services to the residents of the District of Columbia." The letter of intent outlines details of the joint venture company to be formed by Paladin and Howard - the entity that will eventually acquire the operating assets of UMC. The District will retain ownership of the property and physical plant. The joint venture company will lease the hospital from the District and assume the operational and maintenance cost of UMC. SANDRA M. PHOENIX Executive Director HBCU Library Alliance sphoenix@hbculibraries.org<mailto:sphoenix@hbculibraries.org> www.hbculibraries.org<http://www.hbculibraries.org/> 800-999-8558, ext. 4820 404-702-5854 Skype: sandra.phoenix1 1438 West Peachtree NW Suite 200 Atlanta,GA 30309 Toll Free: 1.800.999.8558 (LYRASIS) Fax: 404.892.7879 www.lyrasis.org<http://www.lyrasis.org/> Honor the ancestors, honor the children.