US-based Twin County Regional Healthcare has signed a memorandum of understanding to form a partnership to own and operate the hospital with Duke LifePoint Healthcare.

As per the non-binding agreement, Twin County Regional Healthcare will retain a 20% ownership interest, while Duke LifePoint will secure 80% ownership, with governance shared equally.

Both the parties plan to enter into a definitive agreement, post diligence and negotiation process.

Twin County Regional Healthcare president and CEO Jon Applebaum said that, as part of the joint venture, the company would have access to clinical, quality and operational resources, and would recruit new physicians.