Mergers & Acquisitions
The deal is expected to close early next year, pending regulatory approvals and other closing conditions.
Hospitals can retain their autonomy while gaining the efficiency and scale benefits of a merger.
The affiliation expands the presence of the University of Pittsburgh Medical Center in central Pennsylvania.
Health systems say they are entering negotiations to combine clinical, medical education and research units.
Company's combined strengths would seem a recipe for success, but Optum's parent company could cause concern for hospitals.
Board of Directors unanimously approved the deal, has recommended that Company's stockholders agree to it.
As part of the deal, Presence Health's medical centers, outpatient facilities and other care sites will integrate into AMITA Health.
Envision and WebMD deals are valued at more than $2 billion each; financial terms of Covenant deal were not disclosed.
The hospitals represent 380 beds and 1250 employees; deal is expected to close in first quarter 2018.
If the two organizations were to reach an agreement, it would not take effect until the end of 2020, local report says.