news-record.com

CHAPEL HILL (MCT) -- The board of the UNC Health Care System reiterated Monday that it doesn't plan to sell its Raleigh subsidiary, Rex Healthcare, but will form a committee to consider an acquisition offer from rival WakeMed.

During a meeting Monday, the UNC Health board approved a resolution that stated that its preliminary review of WakeMed's $750 million offer showed a takeover "would substantially disrupt the business model" of UNC Health.

"We are not interested in selling Rex," said UNC Health CEO Bill Roper, after the board meeting.

WakeMed leaders notified UNC president Tom Ross about its proposal to buy Rex in a letter last week. That letter did not include details such as how WakeMed would pay for a deal or its ability to afford it, Roper said.

When UNC Health receives an official offer fromWakeMed, it plans to form a special committee of board members to review it, Roper said.

"We consider it a major step forward that UNC Health Care's Board of Directors has acknowledged that WakeMed's offer to purchase Rex is deserving of review and consideration," WakeMed CEO Bill Atkinson said in a prepared statement.

Roper declined to say whether UNC Health might accept a higher price, except to say that Rex isn't for sale.

Roper said selling assets such as Rex would only be a short-term solution for North Carolina's cash crunch.