Regulatory agencies are reviewing the agreement, which is expected to be completed by early next year.
The nonprofit healthcare systems signed a memorandum of understanding in April.
“Simply stated, we have a bold vision to combine our respective talents and create the nation’s leading modern academic healthcare system. We have now taken a giant step forward in bringing that collective vision to life,” said Eugene Woods, president and CEO of Atrium Health.
As part of the plan to create and jointly operate an academic medical center, Atrium Health and Wake Forest Baptist Health plan to develop a second medical school in Charlotte, invest in translational research and a population health center in Winston-Salem, and expand virtual care capabilities across the state.
The organizations also plan to build a medical tower on the Wake Forest Baptist Medical Center campus that will include an emergency department, operating rooms and intensive care unit. The systems also have plans for an eye institute on the campus.
More articles on healthcare industry transactions:
Baptist Health to acquire struggling Kentucky hospital after lawsuit dropped
Mercy Hospital in Minnesota to join Essentia Health
UHS inks deal to build out network of ASCs
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
