Officials said the initial goal was to finalize an agreement to develop a nonprofit joint-operating company by the end of the year. However, officials revised their stance, stating they don’t expect to finalize a deal until early next year.
The organizations announced their intent to merge roughly three months ago. Under the letter of intent, the systems agreed to integrate their clinical, medical education and research initiatives, but maintain their individual governing boards and assets.
“We are confident the collaboration between our two organizations is in the best interest of the people of our state as it fosters our common goal of improving the health of North Carolinians,” Carolinas HealthCare System said in a statement Tuesday.
More articles on transactions and valuations:
FTC completes 30-day review, does not publicly contest MSHA-Wellmont merger
Recent hospital M&A fever triggering ‘land grab’ from competing systems
Why hospitals are consolidating to ward off insurers: 4 takeaways
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