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.
