finalized two more acquisitions in its home state of North Carolina, where it already owns four hospitals.
The joint venture between Duke University Health System and publicly traded LifePoint Hospitals is adding MedWest Haywood—a 146-bed hospital that will be known as Haywood Regional Medical Center—and the two-hospital WestCare Health System to its portfolio. The partners entered into negotiations for the transactions last year.
For Clyde, N.C.-based Haywood Regional, Duke LifePoint plans to invest at least $36 million
over eight years for capital improvements and service expansion.
WestCare—which includes 86-bed Harris Regional Hospital in Sylva, N.C., and 25-bed Swain County Hospital in Bryson City, N.C.—will receive at least $43 million
from Duke LifePoint over eight years. Proceeds from the acquisition also will retire WestCare's debt and fund a charitable foundation.
Both of the acquired not-for-profit providers now become tax-paying entities.
Duke LifePoint's portfolio also includes hospitals in Marquette, Mich., and Galax, Va. The joint venture is also in negotiations for Pennsylvania-based Conemaugh Health System
.Follow Beth Kutscher on Twitter: @MHbkutscher