Healthcare Business News
 

Duke LifePoint finalizes fifth acquisition


By Beth Kutscher
Posted: March 3, 2014 - 3:00 pm ET
Tags:

Duke LifePoint Healthcare has completed its previously announced acquisition of Wilson (N.C.) Medical Center.

The deal, structured as a joint venture, calls for Duke LifePoint to make a $120 million capital investment in Wilson Medical Center over the next 10 years. Duke LifePoint will own 80% of the venture, with the hospital and the local community owning the remaining 20%. Under the conversion, Wilson will no longer be a tax-exempt entity.

Advertisement | View Media Kit

 

This marks the fifth acquisition for Duke LifePoint, a joint venture formed in 2011 between Durham, N.C.-based Duke University Health System and publicly traded LifePoint Hospitals, based in Brentwood, Tenn.

As part of the transition, Wilson Medical Center CEO Rick Hudson will retire. Jerry Dooley, a LifePoint executive since 2006, will serve as interim CEO while a national search for a new CEO takes place

Follow Beth Kutscher on Twitter: @MHbkutscher


What do you think?

Share your opinion. Send a letter to the Editor or Post a comment below.

Post a comment

Loading Comments Loading comments...

Search ModernHealthcare.com:


 

Switch to the new Modern Healthcare Daily News app

For the best experience of ModernHealthcare.com on your iPad, switch to the new Modern Healthcare app — it's optimized for your device but there is no need to download.