On October 18, 2023, University of Pittsburgh Medical Center (UPMC) and Washington Health Care Services Inc. (WHS) entered into an integration and affiliation agreement pursuant to which, among other things:
WHS will merge with and into its affiliate, The Washington Hospital (TWH), with TWH being the surviving corporation,
- UPMC will become the sole corporate member of TWH,
- UPMC will appoint approximately one third of the board of directors of TWH,
- certain specified powers of TWH will be reserved to UPMC as the sole corporate member, and
- WHS will be renamed UPMC Washington.
The objective of the affiliation is to strategically align and integrate the operations of WHS and its subsidiaries and affiliates into the UPMC system to promote the mutual purposes of the WHS and UPMC organizations and to more effectively and efficiently fulfill the healthcare needs of the communities served by the systems. The affiliation would become effective upon the parties meeting all closing conditions, obtaining all necessary regulatory approvals and the expiration of any applicable waiting period. No assurances can be given as to when the closing conditions will be met, when the regulatory approvals will be obtained or what the conditions of any such approvals will be at this time.
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