Duke LifePoint, MPMC Ink Operating Agreement

7/26/2011

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.