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LifePoint Hospitals announced that The Rutherford Regional Health System Board of Trustees and Duke LifePoint Healthcare have finalized the transaction to jointly own and operate Rutherford Regional Health System (RRHS). The newly formed joint venture will strengthen RRHS for the future and give the system new resources to enhance the health care services offered in Rutherford, Polk and Cleveland Counties.
Under the terms of the joint venture, Duke LifePoint owns 80 percent and RRHS has a 20 percent ownership stake. The joint venture will invest $60 million in new equipment and technology and facility maintenance and renovations at RRHS over the next decade. The retained assets and proceeds from the transaction allow RRHS to pay off its debt. The remaining proceeds, approximately $30 million, will be available to fund projects to meet community health and wellness needs.