CULPEPER, Va. (AP) — The University of Virginia Medical Center is now the sole owner of Culpeper Regional Hospital.
The University of Virginia Health System says the change in ownership has been approved by Virginia’s attorney general, the hospitals’ boards and the U.Va. Board of Visitors.
The medical center previously owned 49 percent of the hospital.
A statement released Monday by the health system says U.Va. will invest $45 million in the hospital and related health care improvements.
Under the agreement, the former Culpeper Regional Health System’s remaining entities will be managed by a newly created Culpeper Wellness Foundation. The foundation will receive $5 million for capital improvements, including expansion of the Powell Wellness Center. The foundation also will received $500,000 annually for 10 years to advance community health and wellness.
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