Twin County Regional Healthcare in Galax, Va., has announced an agreement with Duke LifePoint Healthcare in Brentwood, Tenn., to jointly own and operate Twin County Regional and its affiliated assets.
Under the terms of the final agreement, Duke LifePoint owns 80 percent of Twin County Regional and its assets, while the Twin County board of directors retains 20 percent ownership.
While ownership will be split 80/20, governance of the hospital will be equally shared between Twin County and Duke LifePoint. An eight-member board will be established with representation from both parties.
Twin County is the third hospital to joint venture with Duke LifePoint.
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Under the terms of the final agreement, Duke LifePoint owns 80 percent of Twin County Regional and its assets, while the Twin County board of directors retains 20 percent ownership.
While ownership will be split 80/20, governance of the hospital will be equally shared between Twin County and Duke LifePoint. An eight-member board will be established with representation from both parties.
Twin County is the third hospital to joint venture with Duke LifePoint.
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Duke LifePoint Healthcare, N.C.'s Maria Parham Sign Definitive Partnership Agreement