|[March 03, 2014]
Wilson Medical Center Finalizes Joint Venture with Duke LifePoint Healthcare
WILSON, N.C. --(Business Wire)--
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 Vie 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."
With the finalization of the joint venture, health care veteran Jerry
Dooley will join Wilson Medical Center as Interim CEO, replacing
President and CEO Rick Hudson, whose retirement was effective with the
completion of the joint venture transaction. Dooley will serve as
Interim CEO until a new hospital leader is selected following a national
search process that has been initiated.
An experienced hospital administrator with more than 30 years of
experience, Dooley holds a master's degree in economics from Indiana
State University and a master's degree in hospital administration from
the University of Minnesota. He has served as Interim CEO for six
hospitals within the LifePoint system since 2006, providing leadership
and direction to hospitals as permanent CEOs are recruited.
"Rick Hudson has been an excellent leader at Wilson Medical Center, and
we wish him the very best in his retirement," said LifePoint Chairman
and Chief Executive Officer William F. Carpenter III. "We are confident
that Jerry can successfully lead the transition for Wilson Medical
Center as it becomes part of Duke LifePoint's network of hospitals. He
is a seasoned hospital executive who will be a great addition to the
Wilson team until a permanent CEO is named. We look forward to working
with the leadership at Wilson to strengthen and enhance health care
services to the community."
Wilson Medical Center is the fifth hospital nationally and third
hospital in North Carolina to join Duke LifePoint.
About Wilson Medical Center
Wilson Medical Center is a 294-bed health care organization that offers
a range of services. We offer comprehensive cardiac care, imaging
services, cancer care and orthopedics, in addition to primary and
specialty care through our physician practice offices. We also offer
community outreach programs, including Oncology Nurse Navigation, dr.
talks and Silver Service, providing our community with additional health
and wellness resources that go beyond onsite care. For more information,
About Duke LifePoint Healthcare
Duke LifePoint Healthcare, a joint venture of Duke University Health
System, Inc. and LifePoint Hospitals® (NASDAQ: LPNT), was established to
build a dynamic network of hospitals and health care providers. The
joint venture, which brings together LifePoint's experience in
community-based hospital management and Duke's world-renowned leadership
in clinical service, is strengthening and improving health care delivery
by providing community hospitals the clinical, quality and operational
resources they need to grow and prosper. For additional information,
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