WakeMed to Join Atrium Health in $2 Billion Deal
Atrium pledged a $2 billion capital commitment and 3,300 new health care jobs as WakeMed would keep operating as the same legal entity.
- On Friday, WakeMed announced plans to affiliate with Atrium Health, which would become the nonprofit's sole corporate member under a $2 billion deal aiming to expand services across North Carolina.
- Seeking to compete with major providers like UNC Health and Duke Health, WakeMed's board unanimously approved the transaction this month to gain easier access to capital and clinical trials.
- The merger includes a $2 billion investment, more than 3,300 new health care jobs over five years, and expands financial assistance eligibility for patients from 300% to 400% of the federal poverty level.
- County commissioners are scheduled to vote Monday on whether to allow the combination, a necessary step before the proposal undergoes regulatory review over the coming months.
- State Treasurer Brad Briner warned Friday that reduced competition harms consumers, calling on the Attorney General and the Federal Trade Commission to scrutinize the proposal's potential impact on North Carolinians.
13 Articles
13 Articles
Atrium Health sets sights on entering Triangle with WakeMed acquisition
Atrium Health gained the unanimous support of the WakeMed Board of Directors for the proposed acquisition in large part because of pledging $2 billion in capital investment into WakeMed, along with adding 3,300 new jobs.
Atrium to take control of WakeMed in deal that could bring $2B investment to Wake
The deal could give WakeMed easier access to capital as it seeks to compete with UNC Health and Duke Health. It would also give Atrium a foothold in the fast-growing Triangle market.
Atrium Health plans to acquire Raleigh health care system with $2 billion investment in Wake County
Atrium's partners say the proposal aims to address critical health care needs while continuing to focus on their shared mission-driven commitments to the patients and communities they serve.
Proposed Atrium, WakeMed merger prompts concern from Treasurer Briner
Charlotte-based Atrium Health and Raleigh-based WakeMed plan a “strategic combination” including a $2 billion Atrium commitment to WakeMed’s initiatives. The release of that information Friday afternoon in an agenda item for the May 4 Wake County Commission meeting prompted a swift note of concern from state Treasurer Brad Briner. “There is a simple business principle that when suppliers consolidate and competition is reduced it is the consumers…
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