MultiCare Health System has entered into an agreement to purchase the majority ownership interest in Capital Medical Center in Olympia from subsidiaries of LifePoint Health, a holding company based in Tennessee.
Capital Medical Center is a full-service, 107-bed community hospital that opened in 1985 and serves communities in Olympia, as well as Thurston, Mason, Lewis and Grays Harbor counties. When this purchase is complete, MultiCare will have the majority ownership interest in Capital Medical Center. A small percentage of the ownership of Capital Medical Center (less than 10 percent) is held by a group of community physicians. Current plans are for the physicians to maintain these ownership interests, but this could change in connection with the transaction closing.
The agreement comes after nearly two years of discussion between LifePoint Health and MultiCare, as well as a rigorous review process that included evaluating the hospital’s finances, quality, compliance status, facilities and technology, as well as employee and provider relationships.
MultiCare has offered an array of services in the Olympia and Thurston County region since the late 1990s when we opened a Mary Bridge Children’s Hospital satellite clinic in Olympia. Today the services we provide in the greater Olympia area include pediatric care, laboratory services, OB/GYN care, orthopedics and sports medicine, cardiac care through Pulse Heart Institute and urgent care services at a number of Indigo Urgent Care locations.
Capital Medical Center — which will become MultiCare Capital Medical Center after the acquisition is finalized — will be an important addition to the organization. It will allow MultiCare to partner with more patients and more communities; have a larger impact statewide as an essential system of health; and give MultiCare greater ability to help shape the future of health care in the Pacific Northwest.
Despite the challenges we’ve faced in 2020, we are continuing our journey to become the Pacific Northwest’s highest value system of health. Over the years MultiCare has been a good steward of our organization’s resources, giving us the financial reserves we need to continue to invest in our existing organizations and services, to develop new clinical services, and to further extend our services into new geographic regions.
Read more about this agreement on Capital Medical’s website