Two multi-billion-dollar health systems in Virginia and North Carolina – Sentara Healthcare and Cone Health – announced Wednesday they plan to merge to create a 17-hospital system. The CEOs of both not-for-profit health systems shot down the notion that the proposed deal is happening in response to pressures caused by the COVID-19 pandemic. Instead, they said they believe it will help patients by expanding access to care and adding new insurance options and caregivers by adding stability. Norfolk, Virginia-based Sentara and Greensboro, N.C.-based Cone have signed a letter of intent and hope to close the deal in early to mid-2021. The resulting system would have 17 hospitals – 12 from Sentara plus Cone’s five – and $11.5 billion in revenue. Sentara drew $6.8 billion in revenue in 2019, while Cone drew $2.2 billion.
Read the full article: Sentara Healthcare and Cone Health Plan to Merge //
Source: https://www.modernhealthcare.com/providers/sentara-healthcare-and-cone-health-plan-merge