One of the biggest healthcare property deals of the year is unfolding in the Tar Heel State as Risant Health, a nonprofit subsidiary of healthcare leader Kaiser Permanente, has acquired the North Carolina not-for-profit hospital system Cone Health.
Cone Health was founded in 1953 and has more than 13,000 employees and more than 700 physicians, along with 1,800 partner physicians. The health system includes a network of four acute care hospitals, a behavioral health facility, an accountable care organization and a health plan. Cone Health also operates the Triad HealthCare Network (THN), a doctor-led Accountable Care Organization (ACO) that manages and coordinated care for nearly 200,000 patients across five counties.
The financial aspects of the proposed acquisition were not disclosed and the deal requires regulatory approval. Cone Health will maintain its brand, name and mission, and maintain its own board, CEO and leadership team.
“Becoming part of Risant Health presents a unique opportunity to shape the future of health care in the Triad, the state, and across the nation,” said Cone Health President and CEO Dr. Mary Jo Cagle. “As part of Risant Health, Cone Health will build upon its long track record of success making evidence-based health care more accessible and affordable for more people. The people across the Triad will be among the first to benefit.”
“We will work together to share our industry-leading expertise and innovation to expand access to value-based care to more people in the communities we serve,” said Risant Health CEO Dr. Jaewon Ryu.
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