Operations
James Hinton will succeed retiring president and CEO Joel Allison, who led Baylor Scott and White for 23 years.
Companies will work together to develop and deploy new population health offerings by tapping each company's expertise and assets.
Health system started the first phase of its modernization project that CEO Kenneth Davis said will transform how it delivers care services.
The new CMS model allows insurers to design specific benefits to enrollees with a combination of chronic conditions.
Overall, healthcare has added 445,000 jobs in the past 12 months.
Founder Elizabeth Holmes said the company will close its clinical labs and Theranos Wellness Centers in Arizona, California and Pennsylvania.
Critics say the procedure is being oversold, leading some patients to get a treatment they don't need.
The hospitals will generate combined revenues of approximately $215 million and break even in terms of profit.
The plan is part of the insurer's goal to increase the number of payments going to providers who practice value-based care from the current 40 percent to 75 percent by 2020.
Struggling healthcare company says provision will thwart any acquisition of a controlling block of stock for six months.