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Carolinas HealthCare Buys Stanly Health Services for $70M

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Carolinas HealthCare System, based in Charlotte, N.C., has acquired full ownership of Stanly Health Services in Albemarle, N.C.

Carolinas and Stanly have had a management services agreement since 2009, but Carolinas will take over Stanly effective Oct. 1, pending board approval.

Under the deal, Carolinas agreed to invest $70 million over 12 years within Stanly. Those funds will be used to update Stanly's information technology system, expand the emergency department at Stanly Regional Medical Center from 18 beds to 28 beds, expand the hospital's intensivist program, recruit physicians and develop an urgent care center.

More Articles on Hospital Transactions:
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4 Major Providers Make Moves to Acquire Citrus Memorial Hospital

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