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Novant closer to $4.5B deal to buy North Carolina hospital

An advisory group formed to consider bids for New Hanover Regional Medical Center in Wilmington, N.C., has voted unanimously to recommend the hospital pursue a partnership with Winston-Salem, N.C.-based Novant Health, according to The Charlotte Observer

The Partnership Advisory Group voted July 2 after Novant, Charlotte, N.C.-based Atrium Health and Duke Health in Durham, N.C., presented their partnership offers in June for the county-owned hospital. Novant's bid includes an offer to purchase the hospital for $2 billion and invest another $2.5 billion in improvements and services, according to the report. 

The advisory group recommended July 2 that the county pursue a letter of intent with Novant and begin negotiations, according to WECT. 

"We are honored to be selected by the Partnership Advisory Group as the recommended partner for New Hanover Regional Medical Center," said Carl S. Armato, president and CEO of Novant Health, in a statement to WECT. "Novant Health and New Hanover Regional Medical Center are natural partners with aligned values and not-for-profit charitable missions."

More articles on healthcare industry transactions:
Saint Luke's takes over hospital from HCA
CHS sells hospital, exits Louisiana
Advocate Aurora sells 2 hospitals for $190M

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