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ValleyCare Charitable Foundation corporate members have overwhelmingly approved merging the Tri-Valley health system’s nonprofit arm with Stanford, further advancing the relationship that began more than five years when the local hospital itself became affiliated and rebranded as Stanford Health Care-ValleyCare.
In balloting conducted in recent weeks, 91% of participating foundation members voted in favor of the proposed merger first revealed publicly in late April, the VCCF Board of Trustees announced on Monday. The foundation had remained an independent entity for the five-plus years since the Stanford-ValleyCare affiliation agreement became effective in 2015.
“We are confident that this merger will have a positive impact on our hospital, and we thank you for your support,” the trustees said in a joint statement. “We also believe that a merger of VCCF with SHC-VC is well-timed and aligns with our strategic vision.”
VCCF trustees had also argued that the merger would open new fundraising opportunities through Stanford to benefit the local hospital system.
When ballots were counted after the June 18 deadline, 160 corporate members had voted in favor of the merger while 13 members voted against it and three abstained on their ballot, the board reported. An unspecified number of eligible members did not cast a ballot.
With voting complete, the merger agreement is expected to be signed and formally consummated by this Wednesday, according to the board.
The move will see VCCF’s mission and its current fund balance transition to the Stanford University Office of Medical Center Development. Donations made post-merger intended for Stanford-ValleyCare will support funding priorities as established by hospital leadership, the board said.
The merger also brought the departure of VCCF president and executive director Shaké Sulikyan. She reached out to foundation members on her final day last Friday to reflect on her 5-1/2 years with the nonprofit.
“I feel honored to have had the opportunity to work with you and others in our community to advance VCCF’s work of fostering health, building community and saving lives,” Sulikyan said in part.
“Together we’ve funded pioneering programs, cutting-edge services, state-of-the-art equipment and technology, financial assistance programs for patients in need, and much, much more. With your help, we completed the hospital’s largest fundraising campaign in the shortest amount of time in its 60-year history,” she continued:
“I am proud of all we’ve accomplished in helping to ensure the Tri-Valley has access to world-class care close to home by providing ongoing funding to our local hospital, Stanford Health Care-ValleyCare, and its innovative medical programs and services.”
For more information and updates on the process, visit givevalleycare.org/merger.
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