AUSTIN (KXAN) — A merger of two Texas healthcare giants was called off abruptly on Tuesday.
In October, the two non-profit health systems announced their intent to engage in a $14 billion merger that would have put 68 Texas hospitals in 30 counties under the same umbrella, according to a report by the Houston Chronicle. At the time, the organizations aimed to institute a unified board of trustees and a single CEO. Executive operations and support staff were to be set up in Austin, Dallas, Houston and Temple.
The merger between Memorial Hermann Health System and Baylor Scott and White Health was called off in a joint statement from the two organizations.
Read the full statement issued Tuesday:
After months of thoughtful exploration, we have decided to discontinue talks of a merger between our two systems. Ultimately, we have concluded that as strong, successful organizations, we are capable of achieving our visions for the future without merging at this time. We have a tremendous amount of respect for each other and remain committed to strengthening our communities, advancing the health of Texans and transforming the delivery of care. We will continue to seek opportunities for collaboration as two forward-thinking, mission-driven organizations.