WestCare initially decided to partner with Duke in October. After due diligence and the negotiation process is completed in 60 to 90 days, the parties will enter into a definitive agreement, according to the report. The proposed transaction will involve Duke purchasing WestCare members Harris Regional Hospital in Sylva, N.C., and Swain County Hospital in Bryson City, N.C. Financial details were not disclosed.
It appears the acquisition will end WestCare’s ties with Haywood Regional Medical Center in Clyde, N.C. WestCare and Haywood teamed up several years ago to become MedWest Health System, which Charlotte, N.C.-based Carolinas HealthCare System has operated as a unit. However, there was no merger of assets, and the funds generated and spent by WestCare and Haywood remained separate.
More Articles on Health System Acquisitions:
Duke LifePoint, WestCare to Form Partnership
University of Maryland Finalizes Acquisition of Upper Chesapeake Health
LifePoint to Sell $700M of Notes to Fund Acquisitions
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