Cone Health being acquired by Risant Health

GREENSBORO, N.C. (WGHP) — Cone Health has been acquired by another healthcare group, the company announced on Friday.

Cone Health has signed a “definitive agreement” with Risant Health to become a part of Risant. The deal is pending regulatory approvals.

Risant Health is a nonprofit, charitable organization that was created by Kaiser Foundation Hospitals.

“Cone Health’s impressive work for decades in moving value-based care forward aligns so well with Risant Health’s vision for the future of health care. Their longstanding success and deep commitment to providing high-quality care to North Carolina communities make them an ideal fit to become a part of Risant Health. We will work together to share our industry-leading expertise and innovation to expand access to value-based care to more people in the communities we serve,” said Risant Health CEO, Dr. Jaewon Ryu, JD.

Cone Heath is one of the larger healthcare networks in the Piedmont Triad. It employs more than 13,000 people and provides healthcare for more than 200,000 patients in the Triad.

“Becoming part of Risant Health presents a unique opportunity to shape the future of health care in the Triad, the state, and across the nation,” said Cone Health president and CEO, Dr. Mary Jo Cagle. “As part of Risant Health, Cone Health will build upon its long track record of success making evidence-based health care more accessible and affordable for more people. The people across the Triad will be among the first to benefit,” she said.

Cone Health’s branding will remain unchanged and its board, CEO and leadership team will remain in place after the acquisition. It will continue to operate independently.