North Carolina Governor Josh Stein said he will not oppose the proposed merger between Atrium Health and WakeMed after the hospital company agreed to conditions on pricing, investment, and charity care.
Stein had requested that Atrium cap price increases at WakeMed. The company agreed to limit price increases to no more than 1.5 times the annual increase in Medicare costs for five years. "Health care costs are too high," Stein said in a statement.
The governor also secured a commitment from Atrium to fully fund WakeMed's $2 billion capital investment plan. Atrium also agreed to increase WakeMed's annual minimum charity care from 4.8 percent to 8 percent of total adjusted revenue and to create a $150 million community benefit fund.
"We need broader health care reform to address rising costs, and I am committed to partnering with the General Assembly to make health care cost less for North Carolinians," Stein said.