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NHRMC Board of Trustees Approves Agreement to Partner with Novant Health

The New Hanover Regional Medical Center (NHRMC) Board of Trustees has adopted a final agreement approving the sale of NHRMC to Novant Health to best position the health system to meet the needs of Southeastern North Carolina in the decades to come.

The Board of Trustees voted Thursday, Oct. 1, 2020, to approve the Asset Purchase Agreement between New Hanover Regional Medical Center (NHRMC), Novant Health, and New Hanover County, whose Board of Commissioners will consider the same agreement on Monday, Oct. 5, 2020. The agreement would also lead to an expanded relationship with UNC Health and UNC School of Medicine.

“This is a historic vote for our 53-year-old organization. Just as our founding took bold leadership and a vision for a better future, we firmly believe this partnership is in the best interest of our patients, staff, providers, and community,” said Jason Thompson, Chairman of the NHRMC Board of Trustees. “The partnership with Novant Health is the best way to meet the growing needs of the region with expanded services, more affordable care options, and a focus on quality and health equity while maintaining NHRMC’s positive culture.”

Novant Health, a North Carolina not-for-profit health system, has agreed to purchase NHRMC from New Hanover County for $1.5 billion and invest more than $3 billion in growing and advancing NHRMC’s services in the area.

“Novant Health’s substantial commitments will improve the health and quality of life of our community,” Thompson said. “These funds will lead to increased access to care, new facilities to meet the needs of our growing region, and the continued availability of advanced treatments locally. This investment will be transformational for generations to come.”

Additionally, the county has developed a plan to put $1.25 billion of the proceeds in a nonprofit community endowment to support the community’s needs such as health and social equity, local education, community development, and community safety.

“I want to thank the Board of Trustees for their visionary support of a stronger, healthier future for our community. This partnership provides the resources for our outstanding staff and providers to better care for our patients and people throughout the region,” said John Gizdic, NHRMC President and CEO.