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UNC Health Care finalizes purchase, rebrands bankrupt North Carolina hospital

Chapel Hill, N.C.-based UNC Health Care completed its purchase of bankrupt Eden, N.C.-based Morehead Memorial Hospital Jan. 1, according to Rockingham Now.

As part of the agreement, Morehead Memorial was rebranded UNC Rockingham Health Care. All hospital employees in good standing also transitioned to UNC Rockingham employees.

UNC will be responsible for operating the hospital, as well as its adjacent 121-bed skilled nursing facility and several medical offices, the report states.

Hospital President Dana Weston, who was appointed to the position in 2015, will continue to lead UNC Rockingham through the transition and upon its completion.

UNC Rockingham is UNC Health Care's 13th hospital. A bankruptcy judge approved the health system's $11.5 million offer to purchase the North Carolina hospital and related assets last November.

More articles on transactions and valuations:
Massachusetts AG to decide Partners, Mass. Eye & Ear merger: 5 things to know
CoxHealth completes acquisition of 6th hospital
MetroHealth seeks strategic partnership after 'extraordinary year'

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