Overlake Medical Center will not be acquiring Snoqualmie Valley Hospital as discussed earlier this year, according to a joint statement released Friday.

Overlake, a private nonprofit hospital system based in Bellevue, began discussions late in 2013, communicating under a confidentiality agreement, with the King County Public Hospital District No. 4 to acquire the Snoqualmie Valley Hospital and its clinics as an affiliate.

In July, District No. 4’s hospital board authorized formal negotiations, as reported by the editor of the Snoqualmie Valley Record.

But it would seem those negotiations did not bear fruit, according to Friday’s joint statement. The statement read that “leaders of both organizations mutually decided to remain independent but closely aligned and to continue collaborative efforts to serve the healthcare needs of the Snoqualmie Valley and surrounding communities.”

Snoqualmie Valley Hospital District CEO Rodger McCollum suggested the organizations could continue discussions on collaborations in the future.

The District began work on a new hospital in Sept. 2013. Snoqualmie Valley Hospital, initially scheduled to open this fall, is now expected to open in early 2015.