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Prince William Health System Completes Merger With Novant Health to Expand Quality Health Care in Northern Virginia
Date:7/1/2009

Partnership to Fund $240 Million in New Services, Facilities and Physician Specialists for Western Prince William County

MANASSAS, Va. and WINSTON-SALEM, N.C., July 1 /PRNewswire-USNewswire/ -- Following recent approvals by the Federal Trade Commission and the Virginia Attorney General, Prince William Health System (PWHS) of Manassas, Va. and Novant Health of North Carolina, both non-profit organizations, announced today they have finalized an agreement to merge. Novant will invest more than $240 million to help PWHS continue to meet the increasing health care needs of western Prince William County, the population of which is projected to grow more than 20 percent in the next two years.

"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. "We are pleased to have achieved this milestone for growth and we are swiftly moving forward on enhancing the highest priority services and recruiting additional physician specialists."

Under the terms of the agreement, Prince William Health System will retain its name and identity and will continue to be governed by a board of trustees made up of local leaders with deep ties to the community. Novant will seat one PWHS representative on its board, and PWHS will seat one Novant representative on its board. In addition, all donations to the PWHS Foundation will continue to stay within the community.

Specifically, the partnership will enhance the range and quality of PWHS services including: updating its critical care unit, constructing a state-of-the art cardiac catheterization lab, recruiting more than 50 new physician specialists, building a new hospital in
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