THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Wednesday, September 11, 1996 TAG: 9609110448
SECTION: BUSINESS PAGE: D6 EDITION: FINAL
SOURCE: BY MARIE JOYCE, STAFF WRITER
LENGTH: 28 lines
Norfolk's Sentara Health System and Williamsburg Community Hospital have completed their merger, the parties announced Tuesday.
Under the agreement, the hospital retains 51 percent ownership while Sentara holds the rest.
The Williamsburg leadership will remain intact, and Les Donahue, chief executive officer, will become a vice president of Sentara Health System. Current hospital board members will hold nine of 12 seats on the board; the other three will be controlled by Sentara.
Sentara will provide management services to the 139-bed hospital.
``This partnership enables the hospital to continue to maintain and represent the community's interest through its board of directors,'' said Albert R. Trevarthen, board chairman, in a prepared statement.
The parties won't say how much Sentara paid for its share of the hospital.
Williamsburg officials said the affiliation will help them save money by allowing them to participate in volume purchases. They also want to make use of Sentara's management expertise and information systems, officials said in a prepared statement.
Williamsburg leaders had talked with several companies when they began looking for partners. They chose Sentara in part because it is nonprofit. by CNB