RRHS to affiliate with Duke LifePoint
In a second attempt to find an affiliation partner, Rutherford Regional Health System (RRHS) has signed a memorandum of understanding to form a joint partnership with Duke LifePoint Healthcare.
The decision came during Monday night's RRHS Board of Trustees' meeting.
According to a release, the terms of the joint venture include RRHS and Duke LifePoint sharing ownership of the hospital system. Additionally, governance of the hospital will be shared equally between the two entities.
The proceeds of the transaction will eliminate RRHS's debt with the remaining assets being used to fund "charitable and community needs."