The George Washington University Health Plan is currently evaluating "several" proposals from corporate suitors interested in helping the health maintenance organization expand its operations, the executive director said yesterday.
The health plan, a corporate entity separate from the university, issued a request in July for proposals from organizations interested in a joint venture, merger or acquisition "that would continue to recognize the company's general corporate purpose," said Ronald Davy, executive director.
"The company specifically seeks to participate in a larger HMO network whereby clinical care service as currently provided and the educational and research mission of GWUHP could continue to be assured," he said.
Such proposals could include "the assumption of management services, provision of working capital or the acceptance of insurance risk for operating a HMO," the request said.
Davy said the primary reason for the action was to expand the health plan's operations from its single site location at 1229 25th St. NW. to allow it to compete more strongly in the local market.
The health organization, which serves about 20,000 members is "very stable" financially, Davy said.
The deadline for proposals was Oct. 1 and "several" have been received, he said, predicting that a decision would be made in February or March.
Davy would not identify the bidders.
The health organization is run by a board of directors. One-third of the directors are consumers and the rest are employes of the university, Davy said.