Leaders of Cone Health — one of Guilford County’s largest employers — have reached an agreement for the organization to become part of Risant Health.
Cone Health will retain its brand name after its planned merger with Risant, a Washington D.C.-based nonprofit organization.
In a release, officials from both parties said the deal means Cone will become part of a "financing model that improves health and increases access to affordable care in the community”
Cone will operate independently as a regional and community-based health system after the acquisition.
Cone Health President and CEO Dr. Mary Jo Cagle said in a statement that she doesn’t expect changes in the types of care the organization provides. She also said that customers will still see the same doctors and nurses in the same locations.
The healthcare system had earlier planned to merge with Virginia-based Sentara Healthcare, but that deal was canceled three years ago by mutual agreement.
The deal with Risant is subject to regulatory approval. Neither party disclosed the financial terms of the agreement.