Photo courtesy U.Va. Health
The University of Virginia Health System has signed a letter of intent to buy out Novant Health U.Va. Health System, a Northern Virginia regional health system owned by the two institutions through a joint operating company that formed in 2016.
Financial terms of the proposed acquisition have not been disclosed.
Winston-Salem, North Carolina-based Novant Health currently owns 60% of the health system, while U.Va. Health has 40% ownership in the joint operating company. If the new agreement is approved, U.Va. Health would own all the facilities and assets that are currently part of the joint operating company. Facilities include Novant Health U.Va. Health System’s Culpeper, Haymarket and Prince William Medical Centers.
