Cape Fear Valley Health System, Fayetteville, N.C., said it has agreed to a five-year lease to operate 25-bed Bladen County Hospital, Elizabethtown, N.C., beginning June 1.
The county and Cape Fear boards approved the agreement this week. Cape Fear will pay $1 million in annual rent to Bladen County; under terms of the lease, the rent money will finance capital improvements. Cape Fear also agreed to purchase new equipment worth $500,000 annually for use at the hospital. The Fayetteville system, which staffs 581 beds on two campuses, also has the right to buy the hospital after three years. -- by Vince Galloro
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