LifePoint Hospitals and Duke University have reached an agreement in the joint acquisition of another west North Carolina hospital, according to a release.
Duke LifePoint has agreed to purchase the Clyde, N.C. MedWest Haywood hospital for $26 million and $36 million in capital improvements over ten years, according to the Citizen-Times.
The 169-bed hospital has been plagued by financial problems for years, including losing federal funding in 2008 over compliance issues. The hospital brought on former Acadia executive and HCA leader Gene Winters as chief financial officer in 2009 and then entered into a managment agreement with Carolinas HealthCare System, but hospital leaders voted to sell in November.
The deal, which is expected to close later this month, would be the fifth North Carolina hospital acquired by Duke LifePoint. Shares of Brentwood-based LifePoint (Ticker: LPNT) were up slightly to $61.41 in Friday afternoon trading. Year to date, they've risen 16 percent.