Healthcare Business News
 
Rutherford Regional Health System, formerly known as a medical center, will become 80% owned by Duke LifePoint.
Rutherford Regional Health System, formerly known as a medical center, will become 80% owned by Duke LifePoint.

Duke LifePoint closes deal for Rutherford Regional


By Bob Herman
Posted: June 7, 2014 - 12:01 am ET
Tags:

Duke LifePoint Healthcare has closed on its acquisition of Rutherford Regional Health System, Rutherfordton, N.C., marking its sixth transaction since its inception three and a half years ago.

The joint venture will give Duke LifePoint an 80% ownership stake and Rutherford the remaining 20%. Duke LifePoint will invest $60 million during the next 10 years on new equipment, technology and renovation projects, and the organization also will pay off Rutherford's debt and establish community wellness programs. Rutherford, which will shift from nonprofit to for-profit status, will have equal board representation from both organizations.

Advertisement | View Media Kit

 

Duke LifePoint, a joint venture formed in 2011 between not-for-profit Duke University Health System in Durham, N.C., and publicly traded LifePoint Hospitals, based in Brentwood, Tenn., now has four hospitals in North Carolina, one in Virginia and one in Michigan. Duke LifePoint is in the process of adding Conemaugh Health System, a three-hospital network based in Johnstown, Pa.

Follow Bob Herman on Twitter: @MHbherman


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.