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WilmingtonBiz Talk: The $1B question


By
Vicky Janowski, posted
Feb 11, 2021
With the recent closing of the sale of county-owned New Hanover Regional Medical Center to Novant Health, about $1.25 billion from the purchase goes to benefit New Hanover County. Overseeing that staggering amount is an endowment and board responsible for how the money is managed and where grants from interest earnings will go into the community.
The heads of that new endowment board of directors spoke on Thursday s BizTalk to answer questions about what happens next, what an endowment of this size means for the Cape Fear region and the latest on a push to diversify the board. (For the application for two additional board seats to the board, go to the New Hanover Community Endowment s website here.) ....

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New Hanover hospital looks ahead to finalizing Novant sale


Among the issues that have frequented headlines and been the topic of public conversation and debate in 2020, the sale of New Hanover Regional Medical Center sits high on the list. 
When a divided New Hanover County Board of Commissioners voted to pursue the possible sale of the largest employer in the county in September 2019, officials and citizens had questions about what the sale would mean for the future of the hospital and the area.
Since then critics of the sale, like Save Our Hospital Inc., have said the process was rushed, lacked transparency and feared a sale could not only lower the quality of care and increase costs, but put taxpayer money in the hands of groups not from the county.  ....

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Full board of directors named in $1.25 billion hospital community foundation


(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. ....

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Nonprofit foundation in charge of $1.25B from NHRMC sale names 11-person board of directors


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. ....

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Additional community endowment board members named


By
Christina Haley O Neal, posted
Dec 14, 2020
The New Hanover Community Endowment group has announced the remaining additions to its 11-member Board of Directors, according to a news release.
Six people, all New Hanover County residents, were named to the board, on top of five people previously selected when the New Hanover County Board of Commissioners in October established the nonprofit corporation charged with overseeing the estimated $1.25 billion from the sale of the county-owned New Hanover Regional Medical Center.
The nearly $2 billion sale to Winston-Salem-based Novant Health is expected to close early next year. A new regional local board charged with overseeing the hospital after the sale has selected the new members to the endowment board. ....

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