Important note: Information in this article was accurate in 2008. The state of the art may have changed since the publication date.
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Washington Blade - June 17, 2008
The money from the sale will allow the clinic to pay off $5 million in debt and provide $3 million for working capital reserves and improvements to client services.
"This sale finally closes the door on the financial problems the Clinic faced in 2005," said James Sandman, chair of the board of directors of Whitman-Walker. "While our new business model has proven successful, this sale will allow us to move forward faster and focus on our plans for the future: a greater focus on quality primary care for the underserved, enhanced and better integrated services and expansion of our specialty care for the lesbian, gay, bisexual and transgender community and those living with HIV/AIDS."
The clinic's food bank will operate until the end of the year before a change in services from a need-based approach to a medical-based approach.
Most of the services located in the administrative building will move to the Elizabeth Taylor Medical Center.
"We are very excited about this transaction," said Don Blanchon, chief executive officer of Whitman-Walker Clinic. "This sale will finally allow us to close the door on the past and look to a successful future."
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