Cape Fear Valley Health had been managing Harnett Health for the last seven years.
Under the deal, Cape Fear Valley Health will assume Harnett Health’s debt and no money will be exchanged.
“This was a natural next step as Cape Fear Valley Health has been able to stabilize Harnett Health’s operation through this relationship over the years including expanding services while streamlining operations and technology,” Harnett Health President Cory Hess said in a March 9 news release. “It would have been nearly impossible to achieve the growth we’ve had without Cape Fear Valley Health.”
More articles on healthcare industry transactions:
Insight Chicago would buy Mercy Hospital for $1, change its name
OSF HealthCare to acquire majority stake in Kindred hospital, rename it
US settles antitrust case against Geisinger, Evangelical
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.