Rutherfordton, N.C.-based Rutherford Regional Health System and
Under the agreement, Rutherford Regional has a 20 percent stake and Duke LifePoint owns 80 percent, according to a news release.
Over the next 10 years, the joint venture will invest $60 million in new technology, equipment, facility maintenance and renovations at Rutherford Regional.
"Together with Duke LifePoint, we have great opportunities to strengthen the quality care for which we are known, invest in new services and technology and transform healthcare in this region," said Matt Bright, chairman of Rutherford Regional's board of trustees, in the release.
Rutherford Regional and Duke LifePoint will each have equal representation on the board governing the joint venture.
More Articles on Healthcare Industry Transactions:
CHI, Memorial Health System of East Texas Finalize Transfer of Ownership
Robert Wood Johnson University Hospital, Somerset Medical Center Finalize Merger
ValleyCare Health System, Stanford Hospital & Clinics to Affiliate