A North Carolina legislative committee began hearings to consider whether the state, through public University of North Carolina Health Care, based in Chapel Hill, should continue to own Raleigh, N.C.-based Rex Healthcare, according to an News & Observer report.
WakeMed made a hostile bid of $750 million to acquire Rex earlier this year, but UNC's board rejected it. WakeMed continues to make its case with legislators, arguing its purchase of Rex would eliminate duplicative services and improve care.
Addressing the committee meeting earlier this week, WakeMed CEO Bill Atkinson made his case, arguing that Rex doesn't provide high enough levels of charity care and will soon receive 100-percent reimbursement for Medicaid services, while WakeMed receives 83 percent.
Rex was acquired by UNC Health in 2000, according to the report.
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WakeMed made a hostile bid of $750 million to acquire Rex earlier this year, but UNC's board rejected it. WakeMed continues to make its case with legislators, arguing its purchase of Rex would eliminate duplicative services and improve care.
Addressing the committee meeting earlier this week, WakeMed CEO Bill Atkinson made his case, arguing that Rex doesn't provide high enough levels of charity care and will soon receive 100-percent reimbursement for Medicaid services, while WakeMed receives 83 percent.
Rex was acquired by UNC Health in 2000, according to the report.
Related Articles on Rex Healthcare:
UNC Health Requests Records on Meetings, Audits From WakeMedWakeMed Criticizes UNC Hospitals' Money Transfer
WakeMed Not Stopping Pursuit for UNC Health's Rex Hospital