Brentwood, Tenn.-based Duke LifePoint Healthcare and Wilson (N.C.) Medical Center have signed a definitive agreement to form a joint venture.
Under the agreement, Duke LifePoint would own 80 percent of the joint venture, and Wilson Medical Center and the community would own 20 percent. Additionally, the joint venture would commit to $120 million in capital investments at the medical center during the next decade, according to a news release.
Duke LifePoint and Wilson signed a memorandum of understanding to form a joint venture in July. Since then, Duke LifePoint has met with Wilson employees and medical staff. The Wilson County board of county commissioners has approved the proposed partnership, and the North Carolina Attorney General's office is reviewing the agreement, according to the release.
Wilson Medical Center, a 294-bed facility, is the only hospital located in Wilson County. Duke LifePoint is a joint venture between Duke University Health System in Durham, N.C., and LifePoint Hospitals in Brentwood. Duke LifePoint has also struck an agreement to form a joint venture with Rutherford (N.C.) Regional Medical Center and has signed memoranda of understanding to acquire Sylva, N.C.-based WestCare Health System and Haywood Regional Medical Center in Clyde, N.C., according to the release.
More Articles on Health System Joint Ventures:
Duke LifePoint, Wilson Medical Center Partnership Progresses
Duke LifePoint Eyes Joint Venture With Rutherford Regional
Duke LifePoint, WestCare to Form Partnership
