After the period of due diligence, the boards of both organizations will recommend a definitive agreement for approval. Officials said the goal is to close negotiations by mid-2017, pending all necessary regulatory approvals.
According to the letter of intent, CMH will retain its clinical independence while working together with CoxHealth as one entity going forward in all purchasing, contracting and other business-related ventures. CMH will also rebrand in a co-branded format with CoxHealth.
“After a great deal of consideration, we feel that forming a partnership with CoxHealth is in the best interest of CMH’s future,” said Donald Babb, executive director and CEO of CMH. “This is a strategic partnership that will expand CMH’s mission and values and further our ability to make a difference in our local communities.”
More articles on transactions and valuations:
UMass Medical School joins NIH’s $5.5M precision partnership program
DuPage Medical Group acquires OB-GYN practice
Steadman Hawkins Clinic-Denver joins Colorado University, UCHealth
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