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UVA Medical Center to Acquire Majority Stake in Culpeper Regional

The University of Virginia Medical Center in Charlottesville and Culpeper (Va.) Regional Health System have agreed to terms that would make UVA the majority owner of Culpeper Regional Hospital.

Currently, UVA owns 49 percent of Culpeper Regional Hospital and has been a part-owner since 2009. The organizations did not specify what UVA's ownership stake would be, nor were financial terms disclosed.

Culpeper Regional officials said they decided to move forward with the transaction to help the 70-bed hospital better adapt to the evolving healthcare market.

Any deal requires approval from the Culpeper Regional and UVA boards, as well as the office of Virginia's attorney general.

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