After over a year of negotiations, Randolph Health will not become part of Cone Health's larger integrated health care network.
Currently the two provide some services in Asheboro jointly, and Cone Health operates as a managing partner.
Randolph Health CEO Steve Eblin says the two have been longtime partners and that conversations about integration were amicable.
“Now that the Cone deal is not going to happen, we're disappointed about that but we are committed to finding a new integration partner, because in today's health care world, a business model like ours, of a stand-alone hospital, really just doesn't work for the long-term.”
The announcement comes at a time when health care organizations and networks are consolidating amid changes in reimbursement and rising costs.
Cone Health's CEO said in a press release that it was a difficult decision, but that combining would require the organization's priorities and projects to be scaled back or put on hold.