The for-profit owner of two Iredell County healthcare facilities said Friday it is “evaluating” its plans following Novant Health Inc.’s decision Tuesday to end its attempt to purchase the facilities for $320 million. Novant signed an agreement in February 2023 to purchase Lake Norman Regional Medical Center and Davis Regional Psychiatric Hospital of Mooresville from subsidiaries of Community Health Systems Inc.
Novant co-owned both hospitals for an 18-month period in the early 2000s. Novant cited “continued roadblocks” from the Federal Trade Commission in halting its bid. On Tuesday, a three-judge panel of the federal Fourth Circuit Court of Appeals voted 2-1 to implement the FTC’s preliminary injunction request on the potential purchase.
The request was filed June 9. Community said in a news release Novant “intends to exercise its right to formally terminate the purchase agreement soon. “ As a result, Community said it is reviewing operations “in light of the termination.
” “In the interim, there will be no disruption to patient care or any other immediate changes to the healthcare services offered by these hospitals,” Community said. Lake Norman, with 123 beds, provides emergency room, obstetrics, surgical services and outpatient tests and procedures for the Statesville market. Davis Regional ceased operating as a full-service hospital in 2022.
There have been plans to convert the facility into a behavioral health inpatient center. Both Novant and a .
