In his approval of the proposed transaction, Tennessee Department of Health Commissioner John Dreyzehner, MD, said, “Clearly a great deal of work on the part of all involved has gone into this groundbreaking result. We can be proud of the thoughtful, deliberate, transparent and community-accountable process it has been, one I know we all look forward to continuing.”
He continued, “Our job as the state was to determine whether a merger of the two systems could create a clear public benefit to the people of this wonderful and vibrant region, a responsibility we took and will continue to take very seriously as we enter this next exciting and important phase.”
As part of the approval, the state health department will actively supervise the combined entity to “ensure the continuation of the public benefit.”
The merged entity will be called Ballad Health. Officials plan to officially launch the organization Friday.
Wellmont and MSHA initially announced their intent to merge in April 2016.
More articles on transactions and valuations:
Cleveland Clinic to take over Florida hospital
Ardent close to finalizing operating agreement with Texas health system
Kaufman Hall: 5 notable healthcare transactions in 2017
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