County commissioners clear the way for Atrium Health-WakeMed merger
Article excerpt
WakeMed and Atrium Health can move ahead with their proposed merger, following a vote by Wake County commissioners on Monday night. On a 5-2 vote, the board approved changes to WakeMed's articles of incorporation and a transfer agreement. The Federal Trade Commission will have to approve the deal before it becomes final. The vote follows months of negotiations between county attorneys and WakeMed. Commissioners were supposed to vote on the deal in May, after it was approved by WakeMed's board of directors. That vote was delayed after outcry from commissioners, state officials, and community members. Many changes to agreement were made in the past week, including an intervention from Gov. Josh Stein. The governor was initially opposed to the deal but announced his support after Atrium agreed to several changes. Atrium will commit to spending $2 billion of its own money on modernizing and expanding WakeMed facilities. It will also provide a minimum of 8% care to people with low or no incomes. County commissioners will also retain the right to appoint eight members of WakeMed's 14-member board. Vice Chair Safiyah Jackson voted with most county commissioners in favor of the deal. "The reality is that market dynamics shape how care is delivered and funded," she said. "This combination makes it possible for WakeMed to continue to be an equal in our local competitive healthcare...
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Atrium has agreed to build new WakeMed hospitals if the deal becomes final.
