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Bon Secours Mercy Health to acquire majority stake in nonprofit joint venture

Cincinnati-based Bon Secours Mercy Health plans to acquire a majority stake in Charleston, S.C.-based Roper St. Francis Healthcare, a joint venture formed by three systems 21 years ago.

The Medical Society of South Carolina, Charlotte, N.C.-based Atrium Health and Bon Secours, before it merged with Mercy Health last year, created the joint venture. Roper St. Francis has grown to include four hospitals jointly owned and operated in the Charleston area.

Under the restructured ownership deal, Atrium will divest its 10 percent stake in the joint venture, giving Bon Secours Mercy Health a 51 percent stake and Medical Society of South Carolina a 49 percent stake.

When the joint venture was formed in 1998, Bon Secours held a 27 percent stake, Medical Society of South Carolina held a 63 percent stake and Atrium Health held 10 percent.

Financial terms of the deal were not disclosed.

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