UVa medical Center and Culpeper Regional Hospital explore partnership

The University of Virginia Medical Center and Culpeper Regional Hospital have taken the first steps toward a major new partnership.
Under the agreement, UVa Medical Center would have 49 percent interest in the Culpeper hospital, a not-for-profit private institution with 70 beds and 600 employees.
The two hospitals have signed a “letter of intent” that stipulates that UVa would invest a “substantial” amount of capital in the Culpeper hospital.
Culpeper would remain an independent hospital, though UVa would participate in its long-term strategic decisions via UVa’s representation on Culpeper’s board.
Culpeper hospital serves the communities of Culpeper, Madison, Orange, Rappahanock, southern Fauquier and the surrounding region.
Additional details of the deal have yet to be confirmed.