Nashville, Tenn.-based RegionalCare Hospital Partners Inc. and Franklin, Tenn.-based Capella Healthcare Inc. plan to merge. The combined company, RCCH Health Partners, will have 18 hospital campuses in 12 states, with 2,000 affiliated physicians and revenue of $1.7 billion.
Specific terms of the agreement were not provided, but the transaction is expected to close in the second quarter, pending regulatory approvals. The two companies said the merger would not affect day-to-day business operations at their affiliated hospitals.
RegionalCare’s chairman and CEO, Marty Rash, will be the executive chairman of the new company. Capella’s president and CEO, Michael Wiechart, will serve as RCCH Health Partners’ president and CEO and will be a member of the board of directors.