Under the letter of intent, the health systems will exclusively negotiate the formation of a nonprofit organization to govern the combined entity. Each health system will also retain their individual brand and governance structure.
Officials said the next step is to construct a definitive agreement, subject to approval by the health systems’ respective boards of trustees and state regulatory officials.
The organizations also created a website which officials will continue to update with information on the proposed transaction.
More articles on transactions and valuations:
University of Nebraska Medical Center partners with NYC Health + Hospitals, Emory for emergency medical trials
Marshfield Clinic in negotiations to purchase Wisconsin hospital
13 recent hospital transactions and partnerships
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