Wake County Commissioners Green-light WakeMed-Atrium Merger
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In a 5-2 vote Monday evening, the Wake County Board of Commissioners gave its blessing for a $2 billion merger between WakeMed and the state's largest hospital system, Atrium Health. The vote allows the systems to amend WakeMed's articles of incorporation and governing documents to transfer control away from the county commissioners to a 14-member board that both Atrium and county leaders would select. Board of Commissioners Chair Don Mial asked sheriffs' deputies to clear the chamber before the vote after spectators, some of whom had been watching for more than five hours, became disruptive. "I believe my vote protects WakeMed's legacy," said Commissioner Safiyah Jackson before giving an affirmative vote to the merger. "It protects our most vulnerable neighbors, and it guarantees great care for our children and grandchildren." WakeMed announced late last week that it had secured a revised agreement with Atrium that brings an additional $150 million to the county over the next decade. The agreement increases WakeMed's requirement for providing indigent care to a minimum of 8% of its annual adjusted revenue, gives commissioners more control over board appointees, and gives Atrium less power to change WakeMed's governing documents. The revised agreement also firms up the language around the $2 billion in capital expenditures that Atrium intends to make in Wake County over the...
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