The deal includes a new $30 million facility UNC will build for mental health. It will be a psychiatric hospital intended to take some of the strain off WakeMed.
The hospitals said they've signed a five year cooperative agreement for education and training and plan to work together on long term projects.
"We each look forward now to being able to focus on taking care of patients training doctors and discovering new treatments for the care of people of North Carolina," said Dr. Bill Roper, of UNC Health Care.
As for when the new mental health facility will open up, Roper said it still needs to be built. There's no word on when that work might begin.