Hospital board signs MOU with Duke LifepointFinal agreement will be ready in 60 to 90 days
The Haywood Regional Medical Center Board of Trustees has signed a memorandum of understanding to be acquired by Duke LifePoint Healthcare. The potential partnership would provide MedWest Haywood with clinical and operational resources to strengthen and enhance healthcare services throughout Haywood county and surrounding regions.
On November 12, the Haywood board voted unanimously to proceed with negotiations for the acquisition of the hospital by Duke LifePoint following a public hearing, which demonstrated widespread community support for the proposed transaction.
“We selected Duke LifePoint as a partner because of its commitment to physicians, employees, and communities,” said Frank Powers, chairman of the Haywood Regional Medical Center Board of Trustees. “As part of Duke LifePoint, MedWest Haywood would have access to a unique mix of financial resources, clinical and quality programs and management expertise that could help us expand our services, recruit new physicians and enhance the quality care provided throughout this region.”
Duke LifePoint is a joint venture of Duke University Health System and LifePoint Hospitals. By offering the clinical expertise, safety and quality systems of one of the country’s top academic medical centers coupled with a leading hospital management company that brings financial resources, purchasing power and management expertise, Duke LifePoint provides an optimal solution to help MedWest Haywood grow and prosper.
“As part of Duke LifePoint, our employees and physicians will have the resources and support they need to provide even better care to our community,” said Janie Sinacore-Jaberg, RN, FACHE, President and Chief Executive Officer of MedWest Haywood. “Duke LifePoint can help us strengthen and grow our hospital, positioning us to advance healthcare in this region for generations to come.”
Duke LifePoint currently operates four hospitals and a company that offers hospital-based catheterization labs and mobile catheterization services:
- · Maria Parham Medical Center, Henderson, NC
- · Person Memorial Hospital, Roxboro, NC
- · Twin County Regional Healthcare, Galax, VA
- · Marquette General Health System, Marquette, MI
- · DLP Cardiac Partners, Charlotte, NC
Duke LifePoint also has signed memoranda of understanding to explore affiliations with three hospitals in North Carolina: Wilson Medical Center in Wilson, Rutherford Regional Medical Center in Rutherfordton and WestCare Health System in Sylva.
“We welcome the prospect of MedWest Haywood joining the Duke LifePoint family and working with the hospital’s board, physicians and employees to improve healthcare in its communities,” said William J. Fulkerson, Jr., MD, Executive Vice President of Duke University Health System. “We seek to be a collaborative partner with our hospitals and look forward to exploring this proposed acquisition further in the weeks to come.”
As part of Duke LifePoint, MedWest Haywood would become a local taxpayer, providing an important source of new tax revenue to support its community. Additionally, proceeds from the acquisition would retire the hospital’s debt and fund the creation of a locally governed charitable foundation to support community needs.
“Duke LifePoint is committed to making communities healthier by building a regional network of hospitals, physicians and other health care services that are quality driven, adaptive to change and financially strong,” said LifePoint Chairman and Chief Executive Officer William F. Carpenter III. “Our team is delighted to have been chosen as MedWest Haywood’s strategic partner and to have the opportunity to become part of its community. We look forward to working with the board, management, employees and medical staff at MedWest Haywood to help make the hospital all that it can be.”
The memorandum of understanding is a non-binding agreement that outlines the terms upon which MedWest Haywoodand Duke LifePoint can move forward with pursing a proposed acquisition. Following a due diligence and negotiation process, which is projected to take 60-90 days, the parties expect to enter into a definitive agreement. The terms of the definitive agreement must be approved by the Haywood County Commissioners and the Attorney General of North Carolina before being finalized.