Prince William Health System, Manassas, Va., has agreed to become part of Novant Health, Winston-Salem, N.C. As part of the outline of a deal, Novant agreed to invest up to $200 million in the Manassas area. The structure and details of the partnership will be negotiated over the next several months, and regulatory approvals will be sought. The parties hope to close the deal by autumn.
The current economic climate makes running a standalone hospital increasingly difficult, the Prince William system said. The systems lone hospital is 168-bed Prince William Hospital, Manassas, although it has plans to build a 60-bed hospital in Haymarket, Va., which is about 11 miles west of Manassas. The system also wants to increase the number of private rooms at Prince William Hospital, update its critical-care unit and add a cardiac catheterization lab, the system said.
The board of Prince William Health System selected Novant Health from among 20 potential partners because it demonstrated a commitment to community-based healthcare delivery and can help Prince Williams clinical quality take another step up, said Michael Schwartz, president and CEO of Prince William Health System.