Two major North Texas health care providers are planning to join forces.
Baylor Health Care System and Scott & White Healthcare have signed an agreement to form a new company that will combine hospitals and service companies.
"We were confident our cultures would be a good match. Our work together over the past few months has only cemented that belief," said Robert Pryor, MD, president and CEO, Scott & White Healthcare in a press release. "We share common values, most notably a commitment to teamwork and delivering the highest quality patient-centered care. With those intact, we have a strong foundation for success."
The deal will create a new parent organization, Baylor Scott & White Health, plus a service company, Baylor Scott & White Health Service, with leaders from both systems.
The parent company will be headquartered in Dallas, while the service company will be based in Temple. Both companies plan to employ people in both cities.
When finalized, the deal would create a $7.7 billion organization with a combined 43 hospitals. Additionally, the deal would include over 500 patient care sites, 34,000 employees, and more than 6,000 affiliated physicians.
The merger is pending approval from regulatory bodies, but is expected to close in 2013.