Miss. Code Ann. § 37-115-50.1

Subject to the approval of the Board of Trustees of State Institutions of Higher Learning, the University of Mississippi Medical Center (hereafter known as the “academic medical center”) is authorized to directly or indirectly enter into joint-purchasing arrangements, however structured, on terms customary in the market or required by the organization and to enter into joint ventures, joint-operating agreements, or similar arrangements with community hospitals or other public or private health-related organizations, or with for-profit or nonprofit corporations or other organizations, to establish arrangements for the academic medical center to participate in financial integration and/or clinical integration or clinically integrated networks with a joint venture, with community hospitals or other public or private health-related organizations, or with other for-profit or nonprofit corporations or other organizations, or through a joint-operating agreement, and to provide for contracts of employment or contracts for services and ownership of property on terms that will protect the public interest.