Under the proposed non-binding agreement, TCRH would retain a 20 percent ownership interest in the hospital, while Duke LifePoint would own 80 percent of the health system, but governance would be equally shared between the two organizations. The retained assets of TCRH and the proceeds from the transaction would eliminate the health system’s debt, and the remaining assets would be used to create a locally governed charitable foundation.
The two groups are expected to enter into a definitive agreement within 60-90 days, after which the transaction must be approved by Virginia’s Attorney General.
If completed, the transaction would make TCRH the fourth organization in Duke LifePoint’s network.
Related Articles on Duke LifePoint:
N.C.’s Person Memorial Hospital Officially Part of Duke LifePoint Healthcare
Duke LifePoint JV to Acquire Person Memorial Hospital
Duke LifePoint Healthcare, N.C.’s Maria Parham Sign Definitive Partnership Agreement
Academic Health and Hospital Operator Partnerships: Q&A With Dr. Bill Fulkerson and Bill Carpenter of Duke LifePoint Healthcare
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