GREENSBORO, N.C.—Carolinas HealthCare System, Charlotte, N.C., the second-largest public hospital system in the country, is taking over management of five-hospital group Cone Health, Greensboro. Financial terms of the agreement, which will be effective Oct. 1, were not disclosed. Cone will continue to be independently owned, and its current board of trustees will continue to govern the system, according to a news release. The deal also will not affect Cone's pending acquisition of 210-bed Alamance Regional Medical Center, Burlington, which was announced in December, the release noted. The two parties are in discussions with the Federal Trade Commission ahead of the antitrust review process.
Regional News/South: Carolinas HealthCare System to take over Cone Health
The release described Alamance as “supportive” of Cone's agreement with Carolinas HealthCare System. Five members of Cone's senior leadership team will become employees of Carolinas and assume responsibility for managing Cone: Tim Rice, CEO; Terry Akin, president and chief operating officer; Ken Boggs, executive vice president and chief financial officer; Dr. Mary Jo Cagle, executive vice president and chief quality officer, and Theresa Brodrick, executive vice president and chief nursing officer. Rice noted in the release that the deal will “ensure a strong, secure future for Cone Health.”
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