Duke LifePoint com­pletes ac­qui­si­tion of Rutherford Re­gional

Modern Healthcare - - REGIONAL NEWS - —Bob Her­man

Duke LifePoint Health­care has closed on its ac­qui­si­tion of Rutherford Re­gional Health Sys­tem, Ruther­ford­ton, N.C., mark­ing its sixth trans­ac­tion since its in­cep­tion three and a half years ago.

The joint ven­ture will give Duke LifePoint an 80% own­er­ship stake and Rutherford the re­main­ing 20%. Duke LifePoint will in­vest $60 mil­lion dur­ing the next 10 years on new equip­ment, tech­nol­ogy and ren­o­va­tion projects, and the or­ga­ni­za­tion also will pay off Rutherford’s debt and es­tab­lish com­mu­nity well­ness pro­grams. Rutherford, which will shift from non­profit to for­profit sta­tus, will have equal board rep­re­sen­ta­tion from both or­ga­ni­za­tions.

Duke LifePoint, a joint ven­ture formed in 2011 be­tween not-for-profit Duke Univer­sity Health Sys­tem in Durham, N.C., and pub­licly traded LifePoint Hos­pi­tals, based in Brent­wood, Tenn., now has four hos­pi­tals in North Carolina, one in Vir­ginia and one in Michi­gan. Duke LifePoint is in the process of adding Cone­maugh Health Sys­tem, a three-hospi­tal net­work based in John­stown, Pa.

Rutherford Re­gional Health Sys­tem, for­merly known as a med­i­cal cen­ter, will be­come 80% owned by Duke LifePoint.

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