Monday, May 16, 2011
On May 12, 2011, WakeMed Health and Hospitals presented to President Thomas W. Ross of the University of North Carolina a letter stating its intent to offer to purchase the University of North Carolina Health Care Systems' membership in Rex Healthcare, Inc., along with all assets owned, controlled or operated by Rex.
The University of North Carolina Health Care System is an integrated health care system, and all of its components are critical to its missions of patient care, education, research and public service. The sale of the Health Care System's interest in Rex at this time would substantially disrupt the business model that enables the Health Care System to deliver health care to residents from across the state of North Carolina, without regard to ability to pay; to educate and train physicians to serve the people of North Carolina, and to assist health care professionals through referral, consultation, and collaboration.
In our initial review of the correspondence received from WakeMed, this Board is of the preliminary opinion that it is not in the best interest of the citizens of the State or of Wake County for the Health Care System to sell its interest in Rex. However, the Board fully intends to exercise its fiduciary responsibility to consider such details, if any, of an offer to purchase Rex that may be forthcoming from WakeMed. A special committee of the Board will be appointed by the Chair for that purpose.
ADOPTED this 16th day of May, 2011.
-William L. Roper, MD
Secretary, UNC Health Care System Board of Directors
CEO, UNC Health Care System
Dean, UNC School of Medicine