D.C. Hospital Saved from Closure
posted 11:26 pm Wed November 07, 2007 - Washington
The District entered into a partnership with Specialty. The $79 million investment by D.C. Was needed so Specialty could purchase the facility from Envision Hospital Corp. It also allows money for medical equipment and building improvements. "Without this investment from the District of Columbia , healthcare east of the river would not continue to exist," said Fenty. "Our guiding principle in the negotiation of this deal was to ensure that the quality of a person's healthcare would not be determined by where they live in the District."
Part of the money, $20 million, will go towards the day-to-day operations and costs of the hospital. Specialty is required to repay the investment to D.C. over a 10-year period. $30 million will go toward equipment and renovations.
If Specialty ever sells the hospital, the District will get 50% of proceeds.Councilmember Marion Barry said, "even though I voted for this deal and even though... [it is] a very bad deal [made] better, I still have great reservations."
Some of those reservations include Specialty providing no money and the operator of the acute care program, Quroum, never having experience in such management.
Barry said he will work as hard as he can to make the hospital the best medical facility in the nation.
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