Franklin, Tenn.-based Community Health Systems has signed a definitive agreement to sell Lake Norman Regional Medical Center in Mooresville, N.C., to Duke University Health System.
Durham, N.C.-based Duke plans to acquire the 123-bed hospital and its related assets for about $280 million.
"We recognize the healthcare landscape is changing," Duke CEO Craig Albanese, MD, said in a Dec. 11 news release. "While we continue to expand access to care within the communities we serve, it's also time to do more and deliver care to more people — in more communities. We want to bring access to all that Duke Health has to offer to the Lake Norman community."
The acquisition would represent a significant expansion of Duke clinical services outside the greater Triangle area. The deal is expected to close in the first quarter of 2025, subject to regulatory approvals and closing conditions.
Winston-Salem, N.C.-based Novant Health had previously planned to acquire Lake Norman Regional and Davis Regional Medical Center in Statesville, N.C., from CHS. Novant called off the planned $320 million acquisition in June after an appellate court granted the Federal Trade Commission an emergency injunction blocking the deal.
The FTC had been fighting to block the deal for more than a year due to potential antitrust issues.