Duke University Health System in Durham, North Carolina, has completed a $284 million acquisition of Lake Norman Regional Medical Center from Franklin, Tennessee-based Community Health Systems.
Duke assumed operations at the Mooresville, North Carolina-based hospital and its related businesses on Tuesday. The hospital has been renamed Duke Health Lake Norman Hospital.
The health system's acquisition of the 123-bed, acute-case hospital is expected to enable it to expand its clinical services to a wider geographic footprint.
WHAT'S THE IMPACT
Employees and providers have been extended employment offers with Duke, which the health system said should allow for a seamless transition for patients to have continued access to their providers, clinics and facilities. Duke is also providing interim leadership as the search for a new hospital president gets underway.
Over the next several months, the hospital's electronic medical records will be integrated into the Duke system, officials said.
Duke Health Lake Norman Hospital includes 24-hour emergency care, labor and delivery services, cardiology, surgical and orthopedic care, and an outpatient imaging center. The Duke team said it aims to support and enhance all the hospital's services in order to maintain high-quality care locally.
Randy Marion, chair of the Lake Norman Regional Medical Center Board of Trustees, said the hospital is excited to be "turning the page."
"The Mooresville community and Iredell County will greatly benefit from Duke Health's vision for the future and commitment to delivering high-quality, patient-centered care," he said.
THE LARGER TREND
One of the things Duke Health may bring to the table is artificial intelligence, as Duke recently partnered with Abridge on generative AI for clinical documentation.
The platform will be used throughout Duke Health Integrated Practice and Duke Primary Care clinics to document conversations between the patient and clinician during appointments. Clinicians review the notes and can edit them before they are integrated into the patient record and EHR.
The AI platform is designed to help alleviate burnout by reducing the time clinicians spend on documentation.
The for-profit Community Health Systems has been actively selling hospitals to reduce its debt. It has sold at least 32 hospitals since 2020.
For the third quarter of 2024, CHS took a financial hit, citing high payer denials, higher workforce expenses and the unanticipated setback of back-to-back hurricanes.
Community Health Systems is among the nation's largest healthcare companies, owning or leasing 69 affiliated hospitals as of October 2024.
Jeff Lagasse is editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.