Novant Health Backs Out of Hospital Deal With North Carolina Town
May 03, 2010
Novant Health has pulled out of a deal with the town of Louisburg, N.C., to renovate the town's 70-bed Franklin Regional Medical Center in return for supporting Novant's plans for a new 50-bed hospital, according to a report by the News Observer.
The six-hospital health system blamed Louisburg officials for unrealistic demands, but a lawyer for the town said Novant decided the new hospital was a bad business deal.
A Louisburg council member said Novant was breaking its word after signing a non-binding memorandum of mediation in February.
Read the News Observer's report on Novant Health.
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