Randolph Health, 145-bed facility in Asheboro, N.C., and Greensboro, N.C.-based Cone Health signed a nonbinding letter of agreement Wednesday to discuss a possible affiliation.
Under the agreement, Cone Health, a six-hospital system, would commit a sum of more than $100 million to upgrade the Randolph facility and to maintain and add additional services. The Cone Health board of trustees would also fill two of the board's seats with representatives from Randolph.
The organizations previously engaged in a management services agreement in 2016, which would be terminated if the affiliation is successful.
"We believe it is important that people in Randolph County have high quality, local options for their healthcare. And, opportunities may exist for Cone Health to more effectively serve patients in need of services not offered locally," said Terry Akin, CEO of Cone Health. "The next several months will be about seeing how the pieces that each organization brings to the table could fit together to make that happen."