Major Local Heath Care Institutions Set to Merge - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

Temple

Major Local Heath Care Institutions Set to Merge

TEMPLE, TX (KXXV) -

The boards of the Baylor Health Care System and Scott & White Healthcare announced that they will combine to create a new organization that will be the state's largest non-profit health care organization.

Officers of the company say the merger will combine the resources and strengths of both institutions.

The two major local health care institutions have finalized a definitive agreement that will create a new organization called Baylor Scott & White Health.

The approval of the definitive agreement brings together both companies' combined 43 hospitals, over 500 patient care sites, more than 6,000 physicians and nearly 34,000 employees.

The new organization will be comprised of a parent company based in Dallas,TX and a service company based in Temple,TX to be headed by leaders from both institutions.

"The merger of these two organizations will bring the capabilities and capacities of Scott & White which will lead to high quality, low cost health care to our communities based on looking at health population management which is where we are going with health care reform," President and CEO of Scott & White Healthcare Dr. Robert Pryor said.

The newly formed company will be governed by a single board of directors and a board of trustees made up of 16 individuals and 16 representatives from each institution.

With the transaction set to receive approval from the government later this year, Baylor Scott & White Health will hold assets estimated at roughly $7.7 billion.

Powered by Frankly