The Wake County Board of Commissioners voted 5-2 this evening to approve two legal documents – the articles of incorporation and the transfer agreement – that will allow WakeMed to take the next steps to combine with Atrium Health.
“The Board has spent nearly four months listening to community feedback, asking questions of the experts and directing our attorney to negotiate key points in these documents on our behalf,” said Board Chair Don Mial. “We weighed the opportunities and challenges this hospital combination poses, and ultimately, a majority decided that it is in the best interest of our community.”
The amended documents reflect the results of months of negotiations between Wake County, WakeMed and Atrium Health’s attorneys to address areas of importance to the Board. The most significant changes include:
- Capital expenditures – Atrium Health will invest $2 billion of its money – not WakeMed’s – over 15 years to modernize, enhance and expand the hospital’s infrastructure within Wake County. This includes making upgrades to the main WakeMed campus on New Bern Avenue, which is roughly 60 years old.
- Greater indigent care – WakeMed will increase the cost coverage it provides for care to low- or no-income patients from a current minimum of 4.8% to minimum of 8% of its total adjusted revenue annually. This ensures that our community’s growing population will continue to receive the hospital services they need, regardless of their ability to pay.
- Strong community commitment – Atrium Health will pay Wake County $15 million a year over 10 years to fund a new Wake County Whole Health Program. The county will use the $150 million investment to improve access to and the affordability of care, as well as expand mental health care and address social determinants of health such as affordable housing, food security and help for unhoused residents.
- WakeMed Board of Directors – Of the 14-member board, eight members will be appointed by the County Commission, and they must live in Wake County. The remaining six members will be appointed by Atrium Health. The County Commission appointees will have a greater say in ensuring that Atrium meets all its obligations. Decisions concerning the removal of any director and the sale or transfer of equity will remain the same.
During their decision-making process, the Commissioners received more than 3,000 emails, heard 210 public comments prior to today and attended multiple community feedback sessions. The input they received was important in helping them draw conclusions to inform their vote.
