Atrium Health announces new $2 billion purchase offer for NHRMC

Atrium Health announces new $2 billion purchase offer for NHRMC
Updated: Jun. 17, 2020 at 11:33 PM EDT
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WILMINGTON, N.C. (WECT) - Atrium Health confirmed its intention to be the number one choice for New Hanover Regional Medical Center (NHRMC) by submitting an additional $2 billion purchase option Wednesday.

The new offer from Atrium Health is the second option to the original 40-year lease previously offered.

Initially, Atrium responded to the community’s concerns about selling the hospital, but after hearing serious consideration for other offers to purchase, Atrium submitted an additional option.

“Atrium Health has provided the Partnership Advisory Group and the County Commission with an alternative purchase option alongside of our long-term lease proposal so they can choose which is the best fit for the community and their vision for it,” said Eugene A. Woods, president and CEO of Atrium Health.

The $2 billion purchase would allow the County to retain NHRMC’s net surplus cash and investments.

The offer also commits Atrium Health to a minimum of $1.11 billion in capital improvements over the next 15 years.

Highlights of the new offer include paying $200 million in upfront cash to New Hanover County (NHC) at closing and paying over $950 million in equal annual installments to NHC for 15 years to provide a stable revenue source.

Atrium intends to donate $250 million to a foundation that eradicates disparities of care, improves behavioral health and eliminates opioid addiction within the next decade.

Other benefits include confirmation of local control with a two-thirds majority of the board of directors being residents of New Hanover County or the surrounding region.

Atrium is committed to medical education through its academic medicine partner, Wake Forest Baptist Health. This will bring a robust research capability to the communities of Southeastern North Carolina.

“We want to ensure that our financial investments in New Hanover will be dedicated to health care, for everyone – including the most vulnerable, and will be available over time to grow and bear fruit,” said Woods.

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