Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Fantastic 50
    • Generous Virginians Project
    • Legal Elite
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • Issues
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • Issues Archive
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Fantastic 50
    • Generous Virginians Project
    • Legal Elite
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Home News Sentara Healthcare to merge with N.C. health system

Sentara Healthcare to merge with N.C. health system

Sentara and Cone Health have combined revenues of $11.5B

Published August 12, 2020 by Sydney Lake

Norfolk-based Sentara Healthcare announced Wednesday it has signed a letter of intent to combine organizations with Greensboro, North Carolina-based Cone Health.

Transaction details were not disclosed. Sentara President and CEO Howard P. Kern will oversee the combined organization, which will have about $11.5 billion in combined revenue. The corporate headquarters of each organization will remain in Norfolk and Greensboro, North Carolina, respectively. 

Howard Kern
Howard Kern

“This rapidly changing health care environment requires tremendous transformation and innovation to ensure the long-term success of each respective health system and, most importantly, the very best for those we are privileged to serve,” Kern said in a statement. “We can either react to change, or we can shape it. We are choosing to shape change and will lead this transformation of healthcare together.”

Some of the health systems’ goals for merging include increasing health insurance options, building technology platforms and growing community impact.

The larger health care company’s Greensboro location will serve as the regional headquarters for the Cone Health division and current Cone Health CEO Terry Akin will remain in Greensboro as president of the Cone Health division.

“In Sentara Healthcare, we’ve found a like-minded organization who shares our commitment to transforming healthcare,” Akin said in a statement. “The combined organization will build on our shared commitments and distinct expertise to promote better health outcomes and minimize healthcare costs for consumers.”

The Sentara Healthcare Board of Directors and Cone Health Board of Trustees have each approved the terms of the letter of intent, but the combined organization is subject to state and federal regulatory review and closing conditions. The transaction is expected to close by mid-2021 and it is anticipated that it will take up to two years for the organizations to fully combine and integrate.

Sentara has 12 hospital locations in Virginia and northeastern North Carolina. The health system employs more than 1,2000 physicians and 30,000 people who serve in other roles. Sentara’s Optima Health Plan and Virginia Health Plan serve 850,000 members in Virginia, North Carolina and Ohio. The Cone Health system includes five hospitals in North Carolina, and the health system employs more than 13,000 people. Through its Medicare Advantage health plan, HealthTeam Advantage, it serves 15,000 members.

“Our integration strengthens and accelerates our shared mission and strategy to transform healthcare in the communities we serve,” Akin said in a statement. “We have long said we will not grow, just for growth’s sake. We are joining forces to tackle the toughest challenges in health care.”

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Trending

State opens COVID-19 vaccinations for Virginians 65 and older

Condominium complex rendering courtesy Finmarc

Alexandria office building sells for $13.12M; to be converted to condos

Photo courtesy Office of the Attorney General

Shenandoah County distillery faces environmental violation charges

State anticipates fewer COVID vaccine doses due to U.S. shortfall

Applications open Tuesday, Jan. 19 for new PPP round

Sponsored Stories

The Hottest Topic in 2021: Keeping People Connected

5 Financial Steps to Start the New Year Right

What is Supply Chain Management?

2021 Outlook: Evaluating an Unpredictable Year Ahead

Human Capital Development: Your Company’s Sure Bet For Success

Advertisement

Advertisement

Trending

State opens COVID-19 vaccinations for Virginians 65 and older

Condominium complex rendering courtesy Finmarc

Alexandria office building sells for $13.12M; to be converted to condos

Photo courtesy Office of the Attorney General

Shenandoah County distillery faces environmental violation charges

State anticipates fewer COVID vaccine doses due to U.S. shortfall

Applications open Tuesday, Jan. 19 for new PPP round

Sponsored Stories

The Hottest Topic in 2021: Keeping People Connected

5 Financial Steps to Start the New Year Right

What is Supply Chain Management?

2021 Outlook: Evaluating an Unpredictable Year Ahead

Human Capital Development: Your Company’s Sure Bet For Success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2021 Virginia Business. All rights reserved.

Site Maintained by TechArk