ASHEBORO – Randolph Health and Dava Foundation, Inc. have finalized their agreement to purchase all operating assets of Randolph Health. The deal, initially announced in principle on Tuesday morning, was finalized on Friday.

The asset purchase agreement was filed with the United States Bankruptcy Court for the Central District of North Carolina that day. It is subject to bankruptcy court approval and should go through normal bankruptcy proceedings.

“We are encouraged by the progress we are making in preserving access to high quality local health care for years to come,” said Angela Orth, CEO of Randolph Health. “It’s been a long journey, but our commitment to finding a solution that ensures access to local healthcare for our residents has never wavered. “

Following: Randolph Health finds a buyer

Following: County approves loan application

This agreement and the subsequent takeover of Java Medical Group operations from Randolph Health will secure the future of the hospital for businesses and residents of Randolph County. In addition to Tuesday’s initial announcement, the Randolph County Council of Commissioners approved a pair of resolutions requesting up to $ 20 million in loan proceeds from the Rural Health Care Stabilization Fund of the ‘North Carolina General Assembly. These funds will have a direct impact on health care in the community, as they will be used to modernize the facilities and equip the hospital.

“We will continue to update our employees, physicians and the community with additional details over the coming weeks and months,” Orth said.