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Metro Brief: Howard partners with D.C. and Paladin Healthcare Capital to operate United Medical Center

District of Columbia

On January 5, 2015

Howard University and Paladin Healthcare will run United Medical Center, the only hospital east of the Anacostia River.
Pamela Seaton/Creative Commons

Howard University has signed a “letter of intent” to enter into an agreement with the District of Columbia and Paladin Healthcare Capital  to transform the United Medical Center in Southeast D.C.

President Wayne Frederick, a medical doctor, said the opportunity to join partners and to 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. “We intend to utilize our Howard physicians to bring comprehensive, integrated healthcare to the citizens of Wards 7 and 8.”

California-based Paladin Healthcare Capital currently manages the day to day operations of Howard Hospital and an agreement which allows Howard University to continue to be the licensed operator of the hospital.

Paladin Healthcare Capital is a special opportunity investor that makes private equity, structured debt, and real estate investments  in healthcare, according to the company’s website.

Howard University’s 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.  But 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.

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