Prince William and Novant merger complete
- July 1, 2009
The Prince William Health System and Novant Health of North Carolina have finalized their merger, which will expand health care in Prince William County.
Under the agreement, Novant will spend more than $240 million to help Prince William meet the growing demand for health care in the region, especially in the western portion of the county.
The Prince William Health System wants to build a 60-bed hospital in Haymarket and add more private patient rooms at its Manassas hospital. In addition, the money would be used to build a new cardiac catheterization lab and hire 50 new physician specialists.
“Through this exciting partnership, Prince William Health System will take our delivery of quality health care to the next level by expanding access to services, creating new facilities for our rapidly growing community and enhancing job security for our valued employees,” said Michael J. Schwartz, president and CEO of Prince William Health System, in a statement.
The agreement also stipulates that Prince William will keep its name and continue to be operated by a local board of trustees. Both Novant and Prince William will send a representative to each other’s board.
After considering 20 potential investors, the Prince William Health System announced in March that it had reached an agreement to merge with Novant.