Roger Leonard, chairman of Wellmont Health, said although the approval process has taken longer than expected, the waiting has improved the health systems’ relationship.
“We’ve gotten to know each other a lot better,” Mr. Leonard said. “I think there’s been a lot of trust built.”
Mr. Leonard said he expects regulatory officials to issue a decision on the merger in October, according to the report. Health officials in Virginia and Tennessee previously said they would issue a final decision no later than Sept. 19.
The organization initially filed their proposed merger with regulatory authorities in 2014.
More articles on transactions and valuations:
Kentucky VA considers relocating to KentuckyOne hospital property
2 Rhode Island healthcare unions oppose bill to expedite Memorial Hospital sale
Slow government M&A reviews hamper companies’ strategies: 7 things to know