Atrium to acquire WakeMed in deal that would bring $2B investment to Wake County :: WRAL.com
Atrium Health plans to acquire WakeMed in a deal that may bring at the least $2 billion in new investment to Wake County, paperwork filed with Wake County point out.
County commissioners are anticipated to vote on a measure Monday that would assist pave the way in which for the sale. Charlotte-based Atrium is likely one of the nation’s largest nonprofit healthcare firms. An official announcement is predicted Tuesday.
“We are excited to announce this transformational step forward for WakeMed, which supports our ability to deliver on our mission and improve the health and well-being of our community – and beyond – for generations to come,” WakeMed stated in a press release.
The Wake County Board of Commissioners has a job in the appointment of members to WakeMed’s board of administrators and an curiosity in some actual property now owned by WakeMed, in accordance to county paperwork.
Commissioners plan to vote Monday to amend the articles of incorporation for WakeMed — which is required for any transactions to happen. State regulation requires commissioners, in conjunction with WakeMed’s board, to approve any amendments to WakeMed articles of incorporation.
Any transaction would doubtless require additional regulatory overview, State Treasurer Brad Briner indicated Friday. He stated in a press release that he anticipated the lawyer basic and the Federal Trade Commission to look at the proposal and what it may imply for North Carolinians.
“There is a simple business principle that when suppliers consolidate and competition is reduced it is the consumers who suffer,” Briner stated in a press release. “This has been proven to be true time and again in the health care landscape, where prices continue to rise and patients are left with mounting medical debt.”
Briner added: “If history is any guide, this merger will not benefit the public.”
A spokesperson for Atrium did not instantly reply to a request for remark.
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