WakeMed and Atrium Meet Demands To Cap Prices, Increase Charity Care, and Fully Invest $2B New Dollars Into Hospital Improvements

Governor Stein released the following statement in response to the proposed merger between Atrium and Wake Med, following updates to the terms of the deal:  

“The proposed transaction between Atrium and WakeMed has improved substantially in recent days. Health care costs are too high, so I asked Atrium to cap price increases at WakeMed to not more than 1.5 times the annual increase in Medicare costs for the next five years. I am pleased that Atrium has agreed to my request. We need broader health care reform to address rising costs, and I am committed to partnering with the General Assembly to make health care cost less for North Carolinians. 

“Additionally, I am pleased that Atrium responded to my concerns about the source of funds for the $2 billion investment in WakeMed capital projects by agreeing that Atrium will fully fund that investment. I also appreciate Atrium’s new commitments to increase WakeMed’s annual amount of minimum indigent care from 4.8 percent to 8 percent of total adjusted revenue and to create a $150 million fund that will benefit the community. 

“Because Atrium has addressed a number of concerns about the deal’s impact on North Carolinians, I do not oppose the combination.”