WASHINGTON, DC-Howard University has hired Raymond James & Associates to secure a buyer or major partner for its ailing hospital.
The Raymond James hiring was disclosed in a document obtained by the Washington Business Journal. The financial services firm has sent out a prospectus that seeks interested partners for possible deals involving “asset purchase, joint venture, joint operating agreement, long-term lease/management, management agreement, network development, etc."
Dr. Wayne Frederick, the university provost, says all possibilities listed in the prospectus are being considered. The university has not set a deadline for bids submittals or identifying potential partners. However, he notes that the university is moving with "a sense of urgency" and with "precision.” See story in the Washington Business Journal.
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