Special to IFN
Duke Health announced Wednesday that the health care system has signed an agreement to purchase Lake Norman Regional Medical Center and its related businesses in Mooresville from subsidiaries of Community Health Systems, Inc.
With a projected closing in the first quarter of 2025, Duke’s acquisition of the 123-bed, acute-care hospital would represent a significant expansion of Duke Health clinical services outside the Greater Triangle area.
“We recognize the health care landscape is changing,” Craig Albanese, chief executive officer of Duke University Health System. “While we continue to expand access to care within the communities we serve, it’s also time to do more and deliver care to more people – in more communities. We want to bring access to all that Duke Health has to offer to the Lake Norman community.”
According to Community Health Systems Inc., Duke Health agreed to pay approximately $280 million for the properties “subject to certain net working capital and other adjustments.”
While still early in the process, both organizations are proceeding with the necessary transition planning activities to ensure that patients have seamless access to their providers, clinics and facilities.
Lake Norman Regional includes 24-hour emergency care, labor and delivery services, cardiology, surgical and orthopedic care and outpatient imaging center. The medical center employees and community physicians will continue to provide care and play a key role within the new organization.
“We know providers and team members are key to the success of any health system,” said Richard Shannon, Duke Health’s senior vice president and chief medical officer. “We are eager to support LNRMC providers and employees in their mission to deliver exceptional care and an exceptional patient experience.”
Duke Health is a leading academic health system in North Carolina with a vision to improve health outcomes across the region by advancing clinical care, expanding the impact of groundbreaking discoveries, educating and training the next generation of providers and partnering with communities.
“Our primary focus is on the well-being of our patients and the community,” Albanese said. “LNRMC has a long history as a highly successful medical center, which we look forward to learning from as we develop relationships with team members, providers and the community and work together to serve Iredell County.”
Kaufman Hall acted as the exclusive financial advisor to Duke Health. This transaction is subject to customary regulatory approvals and other closing conditions.
LEARN MORE
To learn more, visit https://www.dukehealth.org/lakenorman.