Novant Health Announced It Would Not Proceed With the Hospital Acquisition
Last week, Novant Health announced it would not proceed with the acquisition of Lake Norman Regional Medical Center and Davis Regional Psychiatric Hospital. The decision comes after a temporary injunction by the Fourth Circuit Court of Appeals blocked the sale pending a Federal Trade Commission appeal. The acquisition, initially agreed upon in February 2023, would have transferred ownership of these hospitals and their assets to Novant Health from Community Health Systems, Inc. (CHS) which, in my opinion, would’ve been a tremendous benefit to Mooresville residents. Novant has now decided to terminate the purchase agreement, creating uncertainty around the future management and stability of both hospitals. So unfortunate for the community.
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Novant Health Announced It Would Not Proceed With the Hospital Acquisition
Last week, Novant Health announced it would not proceed with the acquisition of Lake Norman Regional Medical Center and Davis Regional Psychiatric Hospital. The decision comes after a temporary injunction by the Fourth Circuit Court of Appeals blocked the sale pending a Federal Trade Commission appeal. The acquisition, initially agreed upon in February 2023, would have transferred ownership of these hospitals and their assets to Novant Health from Community Health Systems, Inc. (CHS) which, in my opinion, would’ve been a tremendous benefit to Mooresville residents. Novant has now decided to terminate the purchase agreement, creating uncertainty around the future management and stability of both hospitals. So unfortunate for the community.