Two North Carolina hospital systems are partnering up to create a healthcare giant in the state.
UNC Health Care is the largest care provider in the Triangle, and Carolinas HealthCare, among the largest in the state.
In a Wednesday interview with the News and Observer, the CEOs of both companies announced they would be joining forces to create one of the biggest nonprofit health systems in the country.
Leadership in both companies has signed a letter of intent to join together their clinical, medical education and research arms.
While the CEOs claim it's not a merger, they say that combining their operations will allow them to negotiate better deals with insurance companies and vendors.
They've also promised to expand care in rural communities and expand medical education in the communities they serve.
All told, the combined medical system will employ about 90,000 people and operate more than 50 hospitals.
Negotiations are ongoing on several fronts, and the plan will still need federal approval.
If all goes according to plan, the two companies say they intend on closing the deal by the end of the year.