The board of directors at Henderson, N.C.-based Maria Parham Medical Center and Duke LifePoint Healthcare have signed an agreement to jointly own and operate MPMC, according to system news release.
Duke LifePoint, a joint venture of Durham, N.C.-based Duke University Health System and Brentwood, Tenn.-based LifePoint Hospitals, will own 80 percent of the affiliation and will invest $45 million in capital improvements at the hospital over the next 10 years, the release said. MPMC's debt will also be eliminated while the remaining $30 million in assets will go toward the creation of a locally governed charity.
The transaction is expected to be finalized within two to three months pending approval by the North Carolina attorney general.
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Duke LifePoint, a joint venture of Durham, N.C.-based Duke University Health System and Brentwood, Tenn.-based LifePoint Hospitals, will own 80 percent of the affiliation and will invest $45 million in capital improvements at the hospital over the next 10 years, the release said. MPMC's debt will also be eliminated while the remaining $30 million in assets will go toward the creation of a locally governed charity.
The transaction is expected to be finalized within two to three months pending approval by the North Carolina attorney general.
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