Duke LifePoint Healthcare, the joint venture between LifePoint Hospitals and Duke University Health System, has signed a definitive agreement to acquire Conemaugh Health System in Pennsylvania.
Terms of the acquisition, which include three hospitals, outpatient centers and Conemaugh Physician Group practices, exceed $500 million, according to a release. Duke LifePoint has also committed to invest $425 million in the system over the next 10 years.
Duke LifePoint announced a letter of intent for the acquisition in March. The joint venture operates nine other hospitals in Michigan, North Carolina and Virginia.