Special to Iredell Free News

Novant Health has signed a definitive agreement to acquire Lake Norman Regional Medical Center, Davis Regional Medical Center and their related businesses, including physician clinic operations and outpatient services from subsidiaries of Community Health Systems Inc.

The sale was announced in a news release Tuesday afternoon.

“Our shared commitments to the community will continue to anchor our efforts and plans as we deliver exceptional, patient-centered experiences; protect safety and quality; improve community health; and promote equitable access to care,” said Carl S. Armato, president and CEO of Novant Health. “This unique and exciting opportunity to extend Novant Health’s regional delivery network to new communities also creates opportunities for medical education, research and innovation.”

The sale price is approximately $320 million, according to Community Health Systems. The transaction is subject to regulatory approvals and is expected to close later this year.

Novant Health owns 15 hospitals and more than 350 physician practices in North Carolina.

“Novant Health has a demonstrated commitment to delivering quality care to the patients they serve across the communities they serve,” said Matthew Littlejohn, CEO of Lake Norman Regional Medical Center and Davis Regional Medical Center. “Our tradition of serving the community with medical services close to home will be enhanced thanks to the dedication and skill of our medical staff and employees.”

Lake Norman Regional Medical Center is an acute care hospital in Mooresville with 123 beds.

Davis Regional Medical Center ceased operating as a full-service hospital in 2022. Community Health Systems planned to transform the Statesville hospital into a behavioral health facility.

Once the transaction is complete, Novant Health will continue working with employees, members of the medical staff, and other stakeholders to deliver quality care close to home, according to the news release.