Areas of agreement/conflict between academic medical centers and investor owned corporations are considered. Academic medical centers are part of the university system, which is responsible for education, research, and the related public good (e.g., nurturing of professions). Major areas for a potential confluence of interest between the academic medical center and an investor owned entity are: desire for efficient and effective management, desire for operating surpluses, need for capital to sustain the most modern technology, desire for quality image to the public, interest in highly educated and trained professionals, and commitment to continuing education. There are also six major areas that pose potential or real conflict between the two: purpose for new knowledge acquisition, responsibility for nurturing professions, business ethics versus professional ethics, time lines for key accomplishments, accountabilities, and standards and values. The differences are most sharply divided on the mission, goals, objectives, values, and professional ethics and standards. A complementary relationship can most easily be achieved with discrete joint ventures, commonly involving capital intensive high technology, ambulatory care, sophisticated research, and very little teaching. (SW)