UVA Health Signs Letter of Intent to Fully Acquire Novant Health UVA Health System

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Novant Health and UVA Health are in discussions for UVA Health to acquire full ownership of Novant Health UVA Health System, a Northern Virginia regional health system owned by the two institutions under a joint operating company. Currently, Novant Health has 60% ownership and UVA Health has 40% ownership of the joint operating company. Under this proposed new arrangement, UVA Health would have 100% ownership of all of the facilities and assets currently part of the joint operating company, including an integrated network of outpatient services and the following hospitals:
  • Novant Health UVA Health System Culpeper Medical Center
  • Novant Health UVA Health System Haymarket Medical Center
  • Novant Health UVA Health System Prince William Medical Center
“Together, Novant Health and UVA Health have determined that having a single owner is the best way to provide exceptional care in the communities that the system serves,” said Carl S. Armato, Novant Health’s president and chief executive officer. K. Craig Kent, MD, UVA’s executive vice president for health affairs, said the proposed agreement allows UVA Health to expand its services to a larger part of Virginia. Proposed Agreement Would Expand Northern Virginia’s Access to High Quality and Specialized Care[/pullquote] “An important part of the mission of our academic health system is to provide superb care to patients throughout Virginia,” Kent said. “Our UVA Health team looks forward to partnering and building on the great work accomplished over the past five years to ensure residents of Northern Virginia have easy access to the full spectrum of services ranging from primary to the most specialized care.” Becoming the full owner of the three-hospital system – which has 260 inpatient beds – would give UVA Health over 1,000 inpatient beds across its footprint. It will create opportunities for patients in Culpeper and Northern Virginia to benefit from UVA Health’s extraordinary care, innovative technology, cutting-edge research, clinical trials and its teaching programs. “Our goal is to further enhance access to quality care for residents of the region and to deliver this care when and where they need it,” Kent said. “We will do this in collaboration with all of the team members at Novant Health UVA Health System and the region’s medical community, including both employed and independent physicians.” “This effort is in alignment with the University’s 2030 Strategic Plan and our commitment to serve the citizens of the Commonwealth of Virginia,” said Jim Ryan, president of the University of Virginia. “Congratulations and great thanks to Craig and his team for their leadership.” Additional details of the agreement are expected in the months ahead. The transaction’s closing is subject to appropriate due diligence reviews and any necessary regulatory and other approvals. Novant Health and UVA Health hope to finalize the transaction by July 1. About UVA Health UVA Health is an academic health system that includes a 696-bed hospital, the UVA School of Medicine, a level I trauma center, nationally recognized cancer and heart centers and primary and specialty clinics throughout Central Virginia. UVA is recognized for excellence by U.S. News & World Report, Best Doctors in America and America's Top Doctors.
 

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