UVA Health Acquires Ownership of Novant Health UVA Health System
July 28, 2021
The University of Virginia Medical Center (d/b/a UVA Health), an academic health system providing care to patients throughout Virginia, has assumed full ownership of the interests held by Novant Health in the Novant Health UVA Health System, a Northern Virginia regional health system previously owned by the two institutions through a joint operating company.
Cain Brothers served as UVA Health’s advisor based on our deep domain expertise and experience working with both academic medical centers and community health systems across a range of transaction structures.
UVA Health and Novant formed the JOC in 2016 to provide patients with an integrated high-quality network of care close to home. UVA Health now has full ownership of the facilities that were part of the JOC, including ambulatory locations and the Culpeper, Haymarket and Prince William hospitals.
UVA Health is an academic health system with hospitals across Charlottesville and Northern Virginia, along with the UVA School of Medicine, UVA School of Nursing, UVA Physicians Group and the Claude Moore Health Sciences Library. With more than 40,000 inpatient stays annually and more than 1 million outpatient encounters annually at UVA Health, more than 1,000 employed and independent physicians provide high-quality, comprehensive and specialized care to patients across the Commonwealth and beyond. Founded in 1819 as just the 10th medical school in America, the UVA School of Medicine consistently attracts some of the nation’s most prominent researchers to develop breakthrough treatments to benefit patients around the world. UVA Medical Center is recognized as the No. 1 hospital in Virginia by U.S. News & World Report, and has more than 230 UVA physicians honored on the Best Doctors in America list.
Novant Health is an integrated network of physician clinics, outpatient facilities and hospitals that delivers a seamless and convenient healthcare experience to its communities. The Novant Health network consists of more than 2,300 physicians and over 36,000 employees that provide care at more than 700 locations.