Officials jointly released two internal memos detailing information about the merged entity, Ballad Health, as well as the health systems’ transition process.
Ballad Health will comprise 21 hospitals, 14,000 employees and all existing treatment centers and clinics opened by MSHA and Wellmont Health. MSHA President and CEO Alan Levine will serve as executive chairman and president of Ballad Health, while Bart Hove, president and CEO of Wellmont Health, will be appointed CEO and report to Mr. Levine, the report states.
Leaders outlined 16 specific expectations detailing how the transition should occur, according to the report. The first step, officials noted, was to name a transition team.
“The first step for entering the transition period is the naming of a transition team. This team will be focused on immediate priorities for closing and for establishing processes for post-closing integration,” one of the memos states.
Officials also acknowledged, “We will not permit Mountain States or Wellmont to creep into our culture. … we will be Ballad Health,” according to one of the memos obtained by the Bristol Herald Courier.
The transaction is expected to close in early 2018, officials said.
More articles on transactions and valuations:
United Medical Center to cut ties with hospital operator Veritas
Geisinger to acquire New Jersey physician group
Baptist Health signs letter of intent to acquire Hardin Memorial Health
