Wake Forest Baptist Medical Center and Hugh Chatham Memorial Hospital today announced a partnership to ensure the future of Alleghany Memorial Hospital (AMH).
Under the agreement, effective today, Wake Forest Baptist and Hugh Chatham create a 50-50 joint venture called Alleghany Health, LLC, which will become the full owner of AMH.
The goal of the joint venture is to ensure fiscal stability for AMH and to enhance coordination of patient care and access to clinical services across the region.
Under the agreement, AMH agreed to work with the local community to raise at least
$6 million in donations toward the future capital needs of the organization.
"Wake Forest Baptist is excited about the possibilities this partnership brings to the Alleghany County community,” said James W. Hoekstra, M.D., senior vice president and associate dean, clinical and academic network development at Wake Forest Baptist. "The goal has been to maintain the long term stability of accessible, high quality medical care for the residents of Alleghany County. This partnership should accomplish that goal."
The agreement formalizes the existing collaborative and population health-focused efforts among the three health care institutions in Elkin, Sparta and Winston-Salem to improve the health of those who live in northwestern North Carolina’s communities.
“Hugh Chatham has been honored to serve Alleghany County’s health care needs for generations,” said Paul Hammes, CEO, Hugh Chatham Memorial Hospital. “This partnership, and investment, underscores our commitment to ensure convenient access to high quality health care for years to come.”
AMH will benefit from improved scale economies, and even greater access to specialized care and expertise.
“This is a wonderful opportunity for AMH and the communities we serve,” said AMH President Craig James. “In today’s changing and uncertain health care environment, our small rural hospital is very fortunate to have strong partnerships with Hugh Chatham Memorial and Wake Forest Baptist.”
Paula Faria: email@example.com, 336-716-1279