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Details of Wellmont, Mountain States merger released

Kingsport, Tenn.-based Wellmont Health System and Johnson City, Tenn.-based Mountain States Health Alliance have announced the two organizations are in exclusive merger talks.

Wellmont and Mountain States plan to come together to create a new health system with a new name. A new board would be created for the organization.

Bart Hove, president and CEO of Wellmont, would serve as the CEO of the new system. "Together, we'll work alongside our employed and independent physicians to shape the future of healthcare by modeling effective clinical collaboration, building new community health solutions and becoming a national model for rural healthcare delivery," said Mr. Hove.

The two systems will now enter into a period of due diligence and work toward a definitive agreement. The transaction also needs regulatory and state approval, which will likely occur at the end of 2015.

More articles on healthcare industry transactions:

Clifton Springs Hospital & Clinic joins Rochester Regional Health System
Robinson Health System to join University Hospitals
IU Health La Porte in exclusive partnership talks with CHS subsidiary

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