New Hanover County and NHRMC share final asset purchase agreement, announce public hearing

NHRMC final proposed purchase agreement released

NEW HANOVER COUNTY, N.C. (WECT) - Community input is requested for the final asset purchase agreement of New Hanover Regional Medical Center (NHRMC), just released by New Hanover County (NHC), Friday.

An agreement detailing Novant Health’s commitment to NHRMC in delivering healthcare in the region is now available for public review. The 160-page proposed draft agreement can be found at the end of this article.

In summary, Novant Health, a NC non-profit health system has offered to purchase NHRMC from NHC for $1.5 billion and invest more than $3 billion in growing medical services in the area.

The citizen-led partnership Advisory Group, which was formed in October 2019, unanimously selected Novant Health’s proposal and recommended it for approval by the New Hanover County Board of Commissioners, July 13.

Community input is sought on the following:

The Asset Purchase Agreement (also referred to previously as the “definitive agreement”) between New Hanover County, NHRMC and Novant Health.

The draft bylaws for a community foundation and the use of net proceeds (which is included in the Asset Purchase Agreement as “Exhibit C” and referred to previously as “Exhibit D” in the approved Letter of Intent). Note: the draft bylaws will also be discussed by Commissioners at their regular meeting on Monday, September 21 at 9 a.m. and will be revised at the direction of the board.

The termination of the lease between the county and NHRMC (if the Asset Purchase Agreement is approved, the current lease agreement between New Hanover County and NHRMC will terminate at closing, because properties and facilities being leased will be sold by the county – making the lease no longer relevant).

The public hearing will be held Monday September 28 at 5 p.m. at the New Hanover County Historic Courthouse, located at 24 North Third Street in Room 301.

In-person attendance is optional to share public comments (limited to three minutes per person), with social distancing guidelines followed. In addition, those who prefer not to attend in person can submit a public comment by emailing comments@nhcgov.com. Emailed comments must be submitted by 6 p.m. on September 27, 2020 in order to be made available to the Board of Commissioners prior to the public hearing.

The public hearing will be available to view live on the county’s Facebook page, NHCTV.com, and on NHCTV’s cable stations: Spectrum channel 13 and Charter channel 5. The meeting will also be available for replay on the county’s website under “Special Meetings” after the hearing.

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