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Atrium submits new $2B bid to buy North Carolina hospital

Charlotte, N.C.-based Atrium Health, working to secure a deal to partner with or own New Hanover Regional Medical Center in Wilmington, N.C., submitted a second proposal June 17, according to local news station WECT. The new offer includes $2 billion to purchase the hospital. 

In its initial proposal, Atrium Health committed to spending $3.1 billion to enter into a 40-year, long-term operating lease and make improvements to New Hanover Regional Medical Center. Atrium offered $941.8 million, including $50 million in upfront cash to the county, lease payments and community foundation funds. It also said it would invest up to $2.17 billion for capital improvements.  

In the new offer, Atrium Health proposes $2 billion to buy the hospital and $1.1 billion in capital improvements. Specifically, Atrium Health would pay $200 million in upfront cash to New Hanover County and about $950 million in annual installments to the hospital for 15 years.

Atrium Health President and CEO Eugene Woods said it presented the second option so that the county can "choose which is the best fit for the community and their vision for it," according to the report. 

Atrium Health is one of three health systems competing to expand in North Carolina by securing a deal to partner with or own New Hanover Regional Medical Center. The other systems are Duke Health in Durham, and Novant Health in Winston-Salem.

Read more about the proposals here. 

More articles on healthcare industry transactions: 
Atrium Health bids $3.1B for North Carolina hospital
A breakdown of 3 proposals for New Hanover Regional Medical Center
ProMedica makes bid to take over operations of UTMC

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