healthmedicinet

Wilson Medical Center and Duke LifePoint Healthcare have completed the formation of their new joint venture following approval by the Attorney General of North Carolina. The organizations now officially share ownership and operation of Wilson Medical Center.

“This is a very exciting day for our employees, physicians, patients and community,” said Jim Pridgen, Chairman of the Wilson Medical Center Board of Directors. “Our board is thrilled to finalize this agreement and begin our new future as part of Duke LifePoint. We look forward to working with the team at Duke LifePoint in the months and years to come to expand the ways that we can make this community healthier.”

Under the terms of the joint venture agreement, Duke LifePoint owns 80 percent of the joint venture, while Wilson Medical Center and the community have a 20 percent ownership stake. The joint venture has committed to make a minimum of $120 million in capital investments at Wilson Medical Center over the next decade. It also will become a taxpaying organization, providing an important source of new tax revenue to support the Wilson economy.

Governance of Wilson Medical Center will be shared equally by Duke LifePoint and the Wilson community through a 10-member board with five Duke LifePoint members and five Wilson members. A separate board of trustees consisting of physicians, local community leaders and a representative from Duke LifePoint also will be established.

As part of Duke LifePoint, Wilson Medical Center will have access to new clinical, quality, operational and financial resources that will allow it to enhance its services and invest in its growth.

“Wilson Medical Center is a wonderful addition to Duke LifePoint,” said William J. Fulkerson, Jr., MD, Executive Vice President of Duke University Health System. “We are pleased to add it to our growing network of community hospitals and health care providers. Together, we have a great opportunity to transform health care delivery in Wilson and the surrounding region.”