Raleigh, N.C.-based WakeMed wants to close the proposed $750 million acquisition of Raleigh's Rex Healthcare, part of Chapel Hill-based UNC Health Care, on or before Dec. 31, according to a News & Observer report.
WakeMed sent a letter to UNC Health Care on Wednesday urging the system to begin negotiations. Although UNC Health Care has said it is not interested in selling Rex Healthcare, it has agreed to review WakeMed's offer.
UNC Health Care and WakeMed have worked together for more than 40 years. For example, UNC has sent medical students and physicians to work at WakeMed. Bill Atkinson, WakeMed CEO, said WakeMed is willing to expand this relationship by partnering in research, teaching and innovation. "But we can't compete with Rex and be friends with UNC," he said, according to the report.
WakeMed argues that UNC Health Care and Rex Healthcare compete unfairly in the local market through its state-supported status. WakeMed has also lobbied North Carolina legislators to support or force a sale of Rex Healthcare to raise money for the state.
Read the News & Observer report on WakeMed and UNC Health Care.
Related Articles on WakeMed and UNC Health Care:
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UNC Health Care Rejects WakeMed's $750M Offer for Rex Healthcare
North Carolina's WakeMed Offers $750M for Rex Healthcare
WakeMed sent a letter to UNC Health Care on Wednesday urging the system to begin negotiations. Although UNC Health Care has said it is not interested in selling Rex Healthcare, it has agreed to review WakeMed's offer.
UNC Health Care and WakeMed have worked together for more than 40 years. For example, UNC has sent medical students and physicians to work at WakeMed. Bill Atkinson, WakeMed CEO, said WakeMed is willing to expand this relationship by partnering in research, teaching and innovation. "But we can't compete with Rex and be friends with UNC," he said, according to the report.
WakeMed argues that UNC Health Care and Rex Healthcare compete unfairly in the local market through its state-supported status. WakeMed has also lobbied North Carolina legislators to support or force a sale of Rex Healthcare to raise money for the state.
Read the News & Observer report on WakeMed and UNC Health Care.
Related Articles on WakeMed and UNC Health Care:
WakeMed Offers $50M For Mental Health, Contingent on Purchase of Rex
UNC Health Care Rejects WakeMed's $750M Offer for Rex Healthcare
North Carolina's WakeMed Offers $750M for Rex Healthcare