If the transaction is approved, Duke Health said its acquisition of the hospital would mark a significant expansion for the organization in North Carolina.

Community Health Systems said Wednesday its subsidiary signed a definitive agreement to sell the Lake Norman Regional Medical Center in Mooresville, N.C., to Duke Health. Duke Health will acquire the facility and related businesses in a deal valued at about $280 million, Community Health System said.

Community Health Systems, Inc. (NYSE: CYH) announced today that a subsidiary of the Company has signed a definitive agreement to sell 123-bed Lake Norman Regional Medical Center in Mooresville, N.C.,

Systems announced that a subsidiary of the company has signed a definitive agreement to sell 123-bed Lake Norman

Duke Health is expanding its footprint outside the Triangle with a major acquisition as competition among health systems in North Carolina heats up. STORY HIGHLIGHTS Duke Health is acquiring Lake Norman Regional Medical Center.

Community Health Systems plans to sell Lake Norman Regional Medical Center to Duke University Health System for $280 million.