Under the partnership, Novant Health will provide nonmedical administrative and management services at 261-bed Lenoir Memorial, according to the report.
The agreement has yet to be finalized. However, Lenoir Memorial’s board, which has been searching for a strategic partner for about a year, hopes that a management agreement will be in place this spring, according to the report.
Lenoir Memorial President and CEO Gary Black, who will keep his position while becoming a Novant employee, told the Triad Business Journal that a new chapter for the hospital is beginning and involves preserving a “legacy of local healthcare for future generations.”
Patrick Easterling, president of Novant Health Shared Services, told the Triad Business Journal, “We believe our culture, values and missions are well-aligned with Lenoir Memorial and that this partnership will position us both for continued success.”
More articles on transactions and valuation issues:
Judge rejects Partners’ deal
Abington Health, Jefferson University Hospitals sign definitive agreement to merge
Banner, University of Arizona Health Network merger gets the go-ahead
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
