February 20 – Baylor Health Care System and Scott & White Healthcare jointly retained Cain Brothers to assist the two health systems in merger discussions that have culminated in a Letter of Intent that was signed in December. The combined Baylor Scott & White Health will be the State of Texas’ largest not-for-profit health system. The boards of both systems approved the signing of a letter of intent to combine the two organizations into a $7.7 billion health care organization. The combined system unites the organizations’ 42 hospitals, more than 350 patient care sites, more than 4,000 active physicians, 34,000 employees, and the Scott & White Health Plan.
Baylor Scott & White Health will be managed under a unified Board of Trustees with equal representation from each institution. Drayton McLane, Jr., the chair of the Scott & White Board of Trustees, will serve as chair of the new company’s board, and Jim Turner, chair of the Baylor Health Care System Board of Trustees, will serve as chair-elect.
The new organization will be led by a single executive leadership team. Joel Allison, who will continue to serve in his role as president and CEO of Baylor, will also serve as chief executive officer of the new company. Dr. Robert Pryor, who will continue to serve as president and CEO of Scott & White, will also serve as president and chief operating officer of the new organization.
For more information on the combined system, please see http://visionfortexascare.com