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January 9, 2014

Wilson Medical Center and Duke LifePoint Healthcare to form joint venture

The Wilson Medical Center, a 294-bed health care organisation, and Duke LifePoint Healthcare, a joint venture of Duke University Health System and LifePoint Hospitals, have signed a definitive agreement to form a new joint venture.

By Mekala ShivaramPrasad

The Wilson Medical Center, a 294-bed health care organisation, and Duke LifePoint Healthcare, a joint venture of Duke University Health System and LifePoint Hospitals, have signed a definitive agreement to form a new joint venture.

The Wilson County Board of Commissioners has positively voted for the proposed joint venture, which will provide Wilson Medical Center with resources to enhance its services and invest in its growth.

Pursuant to the terms of the agreement, Duke LifePoint would own 80% of the joint venture, and Wilson Medical Center and the community would own a 20% ownership stake.

The joint venture would commit to $120m in capital investments at Wilson Medical Center over the next ten years.

Under the terms of the definitive agreement, governance of Wilson Medical Center would also be shared equally by Duke LifePoint and Wilson though the creation of a ten-member board with equal representation from both organisations.

This ten-member board is expected to help ensure a strong community voice in the strategic direction of the hospital.

According to Wilson Medical Center, the new joint venture would become a taxpaying organisation, providing an important source of new tax revenue to support the Wilson economy.

"It is exciting to align with an organisation that brings these shared values to table along with tremendous clinical, quality and operational resources that can help us strengthen our services and prosper."

Wilson Medical Center president and CEO Rick Hudson noted that Wilson and Duke LifePoint are united on several important issues, including a dedication to quality care, a commitment to employees and medical staff, and an understanding of the importance of local involvement in the future of the hospital.

"It is exciting to align with an organisation that brings these shared values to table along with tremendous clinical, quality and operational resources that can help us strengthen our services and prosper," Hudson added.

Currently, the definitive agreement between the two organisations is under review by the Attorney General of North Carolina.

Wilson Medical Center offers comprehensive cardiac care, imaging services, cancer care and orthopaedics, in addition to primary and speciality care through physician practice offices.

Duke LifePoint Healthcare, which owns four hospitals and a company that offers hospital-based catheterisation labs and mobile catheterisation services, was established to build a dynamic network of hospitals and healthcare providers.

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