Wake Forest Baptist teamed up with Elkin, N.C.-based Hugh Chatham Memorial Hospital to form the joint venture, called Alleghany Health. The joint venture will act as the full owner of AMH.
As part of the agreement, Alleghany Memorial Hospital will work with the community to raise at least $6 million in donations to fund capital improvements at the hospital.
More articles on transactions and valuations:
Kaufman Hall: Hospital M&A jumped 13% from 2016
Erlanger receives OK to acquire first hospital outside Tennessee: 4 things to know
UNC Health Care: BCBS of North Carolina drew ‘premature and unfounded conclusions’ about proposed Carolinas merger
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