Following seven months of review, the health system and hospital have decided the current healthcare environment isn’t right for the proposed acquisition, although Novant and Halifax Regional will maintain a management services contract for two years, according to the report.
Novant and Halifax Regional announced their merger agreement last December, and the two organizations entered into a management contract last March. Novant was expected to invest $35 million over five years in capital projects at the hospital.
More articles on hospital acquisitions:
CHS subsidiary to assume operation of Gaffney Medical Center from Novant
Judge delays ruling on Partners deal until after election
Are medical mergers the root of rising healthcare costs?
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