COLUMBIA, SC (WIS) - Two of South Carolina's leading health institutions are joining forces to create a new, nonprofit health company.
The announcement came at a press conference Thursday, that Greenville Health System and Palmetto Health are teaming up to shape and lead South Carolina's health care future.
Together, the two will form the largest health system in the state.
South Carolina has some of the highest rates of obesity, diabetes, stroke and heart disease. But those behind the merger say the new health company will transform health care and address some of Thursday's biggest health care concerns.
With 13 hospitals and 1.2 million patients annually, the combined companies are expected to generate $3.9 billion in annual net revenue.
"Working together, we will improve the patient experience, clinical quality, access to care, and address the rising health care costs," Palmetto Health CEO Chuck Beaman said.
The anticipated launch date of the new health company is Jan. 1, 2018.
"Today's announcement of Palmetto Health and Greenville Health System joining together is a bold move by two respected healthcare institutions," said Carl W. Blackstone, President, and CEO of the Columbia Chamber. "The synergy from this new entity will have a transformative impact on the rapidly changing healthcare environment."