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Banner Health to acquire UA Health Network in January

The Tucson-based University of Arizona Health Network merger with Phoenix-based Banner Health is set to close on Jan. 31, 2015, making Banner the state's largest private employer, according to the Arizona Daily Star.

Officials believe the deal will help UA Health Network and University of Arizona Medical Center stay competitive in the consolidating healthcare market, according to the report.

UA Health Network, which includes two teaching hospitals, the UA Medical Center university campus, the only top-level trauma center in the region and three health insurance plans, employs 6,300 workers. Once the deal closes Jan. 31, those workers are guaranteed six more months at their jobs, according to the report.

Banner operates 16 Arizona medical centers and 12 more in six other states. After the deal closes, Banner will employ more than 37,000 workers.

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