NORFOLK, Va. (AP) - Virginia-based Sentara Healthcare and North Carolina-based Cone Health have announced plans to merge, a move that would combine systems with a potential worth of $11.5 billion.
Sentara CEO Howard Kern told The Virginian-Pilot that after about 18 months of talks, the Norfolk-based company took the first step on Tuesday toward consolidating its finances with Cone.
Kern will lead the combined organization from the Norfolk headquarters.
Cone Health CEO Terry Akin will remain in Greensboro as president of the Cone Health division.
The merger is subject to state and federal review and should be formalized by mid-2021, but it could take up to two years to complete the merger.
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