Wednesday, June 29, 2022

PAG to host series of live streams ahead of NHRMC-Novant agreement approval

NEW HANOVER COUNTY — The Partnership Advisory Group will host a series of live-streamed videos on Facebook beginning next week.

Videos will cover the pending $1.9 billion sale of the county-owned New Hanover Regional Medical Center (NHRMC) to Novant Health.

Related: NHRMC Board approves Novant sale option, discusses where the money will go

New Hanover County Commissioners voted 4-1 on July 7 to execute a letter of intent with Novant Health, the PAG and NHRMC’s top choice.

A majority of the proceeds from the sale of the hospital will fund a new community foundation. Controlled by a board with six Novant-appointed members and five commissioner-appointed members, the foundation will use $1.25 billion to “provide financial support to health and social equity, local education, community development, and community safety.” A $300 million tranche will be created as essentially a rainy day fund for the county to protect taxpayers against emergencies like Covid-19 or hurricanes.

A $50 million “Mental and Behavioral Health Fund” will also be established along with a $200 million “NHRMC Team Investment and Resiliency Fund,” which will provide retirement transition assistance for employees of the NHRMC system if the sale is finalized.

Along with UNC Health and UNC School of Medicine, which partnered with Novant Health in its proposal, the county is working to construct a legally-binding agreement to cement the hospital sale.

A final version of the agreement will be publicly shared within at least 10 days of a forthcoming public hearing. New Hanover County Commissioners will vote on the agreement after the public hearing, which will take place no later than the meeting on October 19, according to the county.

The PAG will host four live streams on New Hanover County’s Facebook page:

  • Tuesday, Aug. 4 from 12 to 1 p.m.
  • Tuesday, Aug. 18 from 5:30 to 6:30 p.m.
  • Tuesday, Sept. 1 from 12 to 1 p.m.
  • Tuesday, Sept. 15 from 5:30 to 6:30 p.m.

PAG members and Novant Health representatives will participate in the videos and answer questions that appear in the comment section.

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