Duke LifePoint, MPMC Ink Operating Agreement
Read the full article at HealthLeaders Media.
On July 25, 2011, Duke LifePoint Healthcare and the board of
directors at Maria Parham Medical Center signed a joint operating agreement for
the 102-bed community hospital in Henderson, NC. The deal, first announced Jan. 31, is expected to close within
the next three months pending regulatory approval.
Duke LifePoint will own 80% of the hospital, while the retained
assets and the proceeds from the deal will eliminate MPMC's debt. The remaining
assets, approximately $30 million, will be used to create a locally governed
charitable foundation that will fund new programs and services in the
community. Duke LifePoint also will invest $45 million in capital improvements
at the hospital over the next 10 years, the partners said.