A hospital turnaround specialist will take over day-to-day operations of Howard University Hospital as part of an agreement with the D.C. university designed to revive the financially ailing hospital.El Segundo, California-based Paladin Healthcare Capital will begin overseeing operations by Oct. 6, officials said Thursday.
The agreement requires the oversight of a joint Howard University and Paladin Healthcare management committee. Howard will continue to be the licensed operator and retain ultimate control over the 266-bed hospital’s financial decisions. Financial terms were not disclosed, and it’s not clear if Paladin will have an ownership stake.
The deal represents a ray of hope for a key District hospital that was thrust into the spotlight last year when some Howard University leaders acknowledged the facility was dragging down the financial health of the historically black university and had even called for an outright sale. It also represents the growing trend of private partnerships to help manage hospitals. Read Full
