The treasurer of North Carolina continues to criticize Novant Health as it further expands its reach in the state, and the Winston-Salem-based system is firmly defending itself against what it characterizes as politically motivated commentary.
Last week, Novant inked an agreement to acquire two hospital systems outside of Charlotte for $320 million, WilmingtonBiz reports.
In a press call Tuesday morning, N.C. State Treasurer Dale Folwell focused on Novant’s expansion and his objection to the trend of consolidation of health care systems in general, which he argues is decreasing the quality of care and increasing costs for patients.
Novant Health purchased the once-county-owned New Hanover Regional Medical Center in 2021 for nearly $2 billion. Should Novant’s attempted purchase of Lake Norman Regional Medical Center and Davis Regional Medical Center clear regulatory hurdles, Novant would grow to own 17 hospitals across the Carolinas and Georgia. The not-for-profit is the region’s largest employer, with about 8,600 employees working in the tri-county area as of December. Read more.
“Everywhere that we’ve seen the consolidation of health care,” Folwell said in the call, “it’s resulting in lower quality, lower access and higher cost.”
In a statement, Novant Health highlighted its accomplishments in the region since acquiring NHRMC and objected to Folwell’s criticisms. Read more.
