The Fauquier Health board of directors and LifePoint Hospitals have finalized their joint venture agreement to share ownership and operation of Fauquier Health. The joint venture will bring $52.8M in capital investments to Fauquier Health over the next 10 years and provide more than $100M to fund a charitable foundation to support crucial community needs. As part of the final agreement, LifePoint will own 80% of the newly formed joint venture, and Fauquier Health and the Warrenton community will retain 20% ownership. Governance of Fauquier Health will be equally shared between Fauquier Health and LifePoint, and a board with equal representation from both entities is being established to ensure that the community has an active voice in the Fauquier Health’s future.
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