Commissioners of North Carolina's New Hanover County voted Sept. 16 to explore a sale of the hospital it owns, according to local television station WECT News.
New Hanover Regional Medical Center in Wilmington, N.C., is financially strong, generating more than a billion dollars in revenue last year, according to the report. However, hospital executives said exploring a sale from a position of strength rather than financial decline is important. NHRMC executives noted that the hospital is the largest publicly owned hospital in the country that doesn't rely on public subsidies, a business model they believe will become unsustainable.
The vote will establish a partnership advisory group to guide and evaluate requests for proposals, as well as provide recommendations to commissioners and NHRMC's board. A few systems that have been brought up as possible acquirers include Winston-Salem, N.C.-based Novant Health; Nashville, Tenn.-based HCA Healthcare; Charlotte, N.C.-based Atrium; and Chapel Hill-based UNC Health Care, according to WECT News.
While executives are on board with the sale, employees of the hospital and residents question how a potential sale could affect the quality of care and benefits for NHRMC's 7,000 employees.
More articles on healthcare industry transactions:
6 hospital mergers called off in past year
Hospital M&A update: 10 latest deals
Top bid for Kentucky hospital falls through