#United States #Risant Health #Cone Health #Geisinger #Greensboro

Risant Health Expands Its Network with Cone Health Acquisition

In a significant move towards enhancing healthcare access, Risant Health has officially announced the successful completion of its acquisition of Cone Health. This deal, finalized after obtaining all necessary regulatory approvals, represents the second health system addition for Risant Health within the last nine months, following its integration of Geisinger earlier this year.

Dr. Jaewon Ryu, the CEO of Risant Health, expressed enthusiasm over the integration of Cone Health into the Risant family, emphasizing the collective goal of advancing value-based care in their communities. "We are proud to welcome Cone Health into Risant Health. This merger brings together a strong group of health systems that are committed to improving healthcare delivery and increasing access to quality care for millions," stated Dr. Ryu.

Risant Health, established by Kaiser Foundation Hospitals, is dedicated to the mission of increasing access to value-based care across various community-based health systems. This organization's vision is to enhance health outcomes and promote innovative healthcare practices in underserved populations nationwide.

The transaction, which involved no cash exchange, renders Risant Health the sole corporate member of Cone Health. Post-acquisition, Cone Health will continue to maintain its brand identity, leadership team, and mission, ensuring that operations remain consistent and familiar for the communities it serves. Dr. Mary Jo Cagle, President and CEO of Cone Health, noted the significance of this partnership: "Today marks a new chapter not only for Cone Health but for healthcare in the North Carolina Piedmont region and beyond. Our years of expertise in value-based care positions us well to further advance our mission in conjunction with Risant Health."

Cone Health has been a pioneer in value-based healthcare for over a decade, and this acquisition will allow the health system to expand its reach and improve care delivery. Through Risant Health's resources and technological capabilities, Cone Health aims to enhance its clinical programs and increase patient access to its healthcare services. The integration is expected to benefit patient care greatly, particularly for vulnerable and marginalized communities served by Cone Health.

The announcement also highlighted the introduction of a value-based care platform, uniting the best tools and services from Risant Health, Kaiser Permanente, Geisinger, and Cone Health. This collaborative approach is designed to foster improved health outcomes, lower care costs, and greater accessibility to healthcare services in the regions where these organizations operate.

Founded in 1953, Cone Health has established itself as a crucial healthcare provider for over half a million residents in the Piedmont Triad area of North Carolina. Its extensive network comprises four acute care hospitals, a behavioral health facility, and multiple healthcare programs including an accountable care organization. The health system’s dedication to patient care spans a diverse range of insurance options, including commercial plans, Medicare, and Medicaid.

Risant Health's purchase of Cone Health, reviewed and authorized by relevant federal and state authorities, was finalized on December 1, 2024. This strategic acquisition reaffirms Risant Health's commitment to build a health system network that delivers high-quality care while addressing the needs of various community demographics.

As the healthcare landscape evolves, the merger between Risant Health and Cone Health is expected to set a positive precedent for future partnerships aimed at fostering value-based care throughout the United States. The combined efforts of both organizations place them at the forefront of a healthcare revolution that prioritizes patient requirements and emphasizes comprehensive wellness.

This new alliance heralds a transformative era for healthcare in North Carolina and aims to enhance the quality of life for a multitude of individuals across the nation.