Under the agreement, the merged entity will keep a board of directors with equal representation from both health systems. Additionally, Charles Beaman and Michael Riordan, who previously lead Palmetto Health and CHS, respectively, will serve as co-CEOs of the new organization. The integrated organization will operate under a new name, which has not yet been selected.
The two providers expected their partnership to take effect in 2018, but the necessary approvals were completed ahead of schedule.
“Both of our organizations are in strong positions, and we will build upon these foundations as we look to address challenges presented by the rapid changes in the health care industry and the ever-changing and growing needs of the communities we serve,” Mr. Beaman said.
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