• Print
  • Reprint or License
  • Share Share

Novant restructures hospitals' ownership

By Karen Garloch
kgarloch@charlotteobserver.com
Posted: Friday, Oct. 02, 2009

Winston-Salem-based Novant Health will manage and operate Franklin Regional Medical Center in Louisburg and Upstate Carolina Medical Center in Gaffney, S.C., as part of a restructuring of joint venture with Health Management Associates announced Friday.

Novant, which owns Presbyterian Healthcare in Charlotte, began its association with HMA in March 2008. That's when Novant purchased a 27 percent share of ownership in seven Carolinas hospitals – Franklin Regional; Upstate Carolina; Davis Regional Medical Center in Statesville; Lake Norman Regional Medical Center in Mooresville; Sandhills Regional Medical Center in Hamlet; Chester Regional Medical Center in Chester, S.C.; and Carolina Pines Regional Medical Center in Hartsville, S.C.

With the restructuring, Novant increases its ownership interest to 99 percent in Franklin Regional and Upstate Carolina. Its ownership share of Lake Norman Regional increases from 27 to 30 percent. Novant will no longer be part owner of the HMA hospitals in Statesville, Hamlet, Chester and Hartsville.

Hide Comments

This affects comments on all stories.

Cancel OK

The Charlotte Observer welcomes your comments on news of the day. The more voices engaged in conversation, the better for us all, but do keep it civil. Please refrain from profanity, obscenity, spam, name-calling or attacking others for their views.   Read more

Disclaimer

The Charlotte Observer is pleased to be able to offer its users the opportunity to make comments and hold conversations online. However, the interactive nature of the internet makes it impracticable for our staff to monitor each and every posting.

Since charlotteobserver.com does not control user submitted statements, we cannot promise that readers will not occasionally find offensive or inaccurate comments posted on our website. In addition, we remind anyone interested in making an online comment that responsibility for statements posted lies with the person submitting the comment, not The Charlotte Observer.

If you find a comment offensive, clicking on the exclamation icon will flag the comment for review by the administrators, we are counting on the good judgment of all our readers to help us.

Recent Blogs

Most Viewed