The realities of the increasing cost of providing health care have led High Point Regional Health System to be acquired by UNC Health Care System.

The systems announced Thursday that UNC Health Care will take on oversight of High Point Regional in early 2013.

High Point Regional officials spent seven months pursuing proposals from health care systems in the state.

Officials did not say which other systems responded. Wake Forest Baptist Medical Center confirmed Thursday that it did not submit a proposal and had no further comment. Novant Health Inc. officials could not be reached for comment.

High Point Regional will remain a private, not-for-profit organization, keeping its current management.

UNC Health Care said it does not plan to make job cuts among High Point Regional's nearly 2,000 workforce for at least a year, or changes in pay rates or benefits for High Point Regional employees.

"We are confident that this partnership will allow us to continue to meet our mission of providing exceptional health services to the people of our region," said Jeffrey Miller, president of High Point Regional.

Under the terms of the letter of intent, UNC Health Care will provide $150 million for capital improvements at High Point Regional and $50 million for the establishment of a community health fund.

Those kinds of financial enticements have become commonplace when one health-care system acquires another.

For example, when Cone Health of Greensboro took over Alamance Regional Medical Center of Burlington this year, Cone won the oversight competition in part because it was willing to commit $150 million over five years toward capital investment in the hospital.

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UNC Health Care taking over High Point Regional Health