On Oct. 5, the New Hanover County Board of Commissioners came to a 4-1 decision to approve the sale of of the hospital to Novant Health, a North Carolina not-for-profit health system based in Winston-Salem, for $1.5 billion after a year of deliberation.
Several concerns were raised by residents surrounding the sale of the hospital. Stein said one of the recurring community concerns he came across was about the endowment transparency.
“I took those concerns to heart, and as a result, there will be two New Hanover public listening sessions held every year to address the board,” Stein said.
Novant and New Hanover agreed to increase the new endowment’s transparency, its accountability to the public, and the representativeness and independence of its board of directors, according to the Attorney General’s office.
By Staff Reports, posted Jan 8, 2021
This year is expected to include some of the same themes as 2020, from what will become of the countyâs proceeds from the sale of New Hanover Regional Medical Center to more COVID-19 news. While COVID-19’s impact on the economy will remain a focus this year, other expected newsmakers in 2021 include New Hanover Regional Medical Center, the film industry and the Port of Wilmington.
Big Picture
Although 2020 is in the rearview, its effects are expected to linger with the potential for even rockier economic times this year.
“I am optimistic that in 2021 our small businesses will begin to see more of a recovery beginning in the third quarter of 2021 if we can turn the tide of the pandemic with the vaccine and a comprehensive strategy to eliminate it,” said Jerry Coleman, director of the Small Business Center at Cape Fear Community College, in December. “The next several months, however, will
WECT looks back at the top news stories of 2020 wect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wect.com Daily Mail and Mail on Sunday newspapers.
(Top row, from left to right) Bill Cameron, Stedman Stevens, Cedric Dickerson, Michele Holbrook; (middle row) Spence Broadhurst, Dr. Virginia Adams, Chris Boney, Dr. Patrick Maguire; (bottom row) David Sprunt, Hannah Gage. Not pictured: Shannon Winslow.
NEW HANOVER COUNTY The entire 11-member board of the newfound New Hanover Community Endowment, Inc. nonprofit has been named, with board members recently conducting their first meeting.
The endowment is tasked with managing $1.25 billion the lion’s share of sale proceeds generated by the sale of New Hanover Regional Medical Center to Novant Health.
Regulators are currently reviewing the sale in advance of its anticipated closing date, which is expected sometime in the first quarter of 2021.
Nonprofit foundation in charge of $1.25B from NHRMC sale names 11-person board of directors By WECT Staff | December 14, 2020 at 3:37 PM EST - Updated December 14 at 8:37 PM
WILMINGTON, N.C. (WECT) - The nonprofit organization that will manage and invest $1.25 billion from the sale of New Hanover Regional Medical Center to Novant Health has announced its board of directors.
Back in October, the New Hanover County Commissioners voted to establish the nonprofit as a 501(c)(3) known as the New Hanover Community Endowment, Inc. The nonprofit has since been registered with the state and will seek tax exemption status with the Internal Revenue Service.