PMH signs with Duke LifePoint

6/3/2011

PERSON MEMORIAL HOSPITAL SIGNS MEMORANDUM

OF UNDERSTANDING WITH DUKE LIFEPOINT HEALTHCARE
 
Roxboro hospital to become the second facility to join the Duke LifePoint system

 
Roxboro, North Carolina  – Person Memorial Hospital (PMH) today announced that its Board of Trustees has signed a memorandum of understanding to become the second hospital to affiliate with Duke LifePoint Healthcare, a joint venture of Duke University Health System, Inc. and LifePoint Hospitals®.

The memorandum of understanding is a non-binding agreement that allows PMH and Duke LifePoint to move forward with due diligence and other necessary steps to pursue this new partnership through a proposed acquisition.  Once this process is complete, the parties would enter into a definitive agreement.

“Over the last several months, our Board has been working to develop a strategic plan that will effectively strengthen our hospital for the future,” said Robby Jones, chairman of the PMH Board of Trustees. “As we explored our options to secure the future of the hospital to continue to serve the people of Person County, it became clear that an affiliation would be critical to the future of our hospital.  As we explored our partnering options, Duke LifePoint emerged as a great fit for our hospital.  Duke LifePoint shares our commitment to our employees and medical staff, to quality healthcare and clinical operations and to the community. We look forward to examining this proposed partnership further in the weeks to come.”

Duke LifePoint is a joint venture formed last year between Duke University Health System and LifePoint Hospitals to strengthen and improve healthcare delivery throughout North Carolina and the surrounding regions by building a network of community hospitals.  Duke LifePoint combines LifePoint’s extensive operational resources and experience in successfully managing community-based hospitals with Duke’s renowned expertise and leadership in the development of clinical services and quality systems. PMH will become the second hospital in the Duke LifePoint network.  The first hospital is Maria Parham Medical Center in Henderson.

“Person Memorial Hospital is a great asset to the Roxboro community,” said William F. Carpenter III, Chairman and Chief Executive Officer of LifePoint Hospitals. “Duke LifePoint has been very impressed with the hospital, and we look forward to learning more about its staff and community.  We are delighted to have the opportunity to be a part of this facility’s future and to partner with it to address changing healthcare needs within Person County and surrounding areas and help the hospital and its community grow and prosper.”

As part of the Duke LifePoint system, PMH will have access to clinical, operational and financial resources that will assist it in better meeting the healthcare needs of its community, providing new opportunities for employees, recruiting new physicians to the community, and investing in new technology and facility enhancements.

A local board of trustees and physician advisory council will be established to ensure local involvement and governance of the hospital.  Proceeds from the proposed transaction could be used to create a community foundation that will support local non-profit organizations.

“Duke has had a management relationship with Person Memorial for 13 years, and we are pleased to have the opportunity to expand this relationship through Duke LifePoint,” said William J. Fulkerson, Jr., M.D., Executive Vice President of Duke University Health System. “The medical staff and employees at PMH have a strong commitment to clinical excellence and patient satisfaction, and we look forward to the prospect of working together to further strengthen the delivery of healthcare services to the community.”

The due diligence process is expected to take approximately 60-90 days and will involve meetings with PMH employees and medical staff as well as members of the community.  Prior to completion of the proposed partnership, the transaction would require the review and approval of the Attorney General of the State of North Carolina.

About Person Memorial Hospital

Person Memorial Hospital is a community owned not-for-profit hospital located in rural Person County, North Carolina. Dedicated in September 1950, Person Memorial has continued to grow and expand to provide the technology and services needed in Person County and the surrounding areas. More than 350 staff members provide quality care to patients, residents and their families and strive to meet the ever-changing needs of the community.

About Duke LifePoint Healthcare

DLP Healthcare, LLC, a joint venture of Duke University Health System and LifePoint Hospitals® (NASDAQ: LPNT), was established to build a dynamic network of hospitals and other healthcare service providers in North Carolina and the surrounding areas. The joint venture, which brings together LifePoint's experience and commitment to community-based hospital management and Duke's world-renowned leadership in clinical service, is strengthening and improving healthcare delivery by providing community hospitals the clinical, quality and operational resources they need to grow and prosper. For additional information, visit www.DukeLifePointHealthcare.com.

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