Greenville Health, Pal­metto form­ing big­gest S.C. sys­tem

Modern Healthcare - - REGIONAL NEWS - —Dave Barkholz

Greenville (S.C.) Health Sys­tem has agreed to a merger with Pal­metto Health to cre­ate the largest hospi­tal sys­tem in South Carolina.

The new health sys­tem would op­er­ate 13 hos­pi­tals and serve 1.2 mil­lion pa­tients an­nu­ally, Greenville CEO Michael Riordan said, adding that the two sys­tems don’t over­lap much.

Riordan will be co-CEO of the new sys­tem with his coun­ter­part at Columbia-based Pal­metto, Charles Bea­man Jr. The sys­tem will have com­bined rev­enue of about $4 bil­lion, Riordan said.

With the merger, half of South Carolini­ans will be within 15 min­utes of a hospi­tal or am­bu­la­tory site in the new sys­tem.

Greenville, which runs six hos­pi­tals, has been on the fi­nan­cial re­bound since early 2016, ac­cord­ing to a re­cent re­port by Fitch Rat­ings. The sys­tem suf­fered a $15 mil­lion op­er­at­ing loss in the first four months of its fis­cal 2016 ended Jan. 31—re­flect­ing a mild flu sea­son and the costs of con­vert­ing to an elec­tronic health record sys­tem, ac­cord­ing to the re­port.

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