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Duke LifePoint Healthcare, N.C.'s Maria Parham Sign Definitive Partnership Agreement

The board of directors at Henderson, N.C.-based Maria Parham Medical Center and Duke LifePoint Healthcare have signed an agreement to jointly own and operate MPMC, according to system news release.

Duke LifePoint, a joint venture of Durham, N.C.-based Duke University Health System and Brentwood, Tenn.-based LifePoint Hospitals, will own 80 percent of the affiliation and will invest $45 million in capital improvements at the hospital over the next 10 years, the release said. MPMC's debt will also be eliminated while the remaining $30 million in assets will go toward the creation of a locally governed charity.

The transaction is expected to be finalized within two to three months pending approval by the North Carolina attorney general.

Related Articles on Duke LifePoint Healthcare:

Academic Health and Hospital Operator Partnerships: Q&A With Dr. Bill Fulkerson and Bill Carpenter of Duke LifePoint Healthcare
Duke, LifePoint Joint Venture to Acquire North Carolina's Person Memorial Hospital
Duke, LifePoint Joint Venture Acquires Cath Labs From MedCath

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