DALLAS (KXAN) — Baylor Scott and White Health and Memorial Hermann Health System will merge, according to a signed letter of intent Monday.
The two Texas nonprofit health systems were both founded as faith-based organizations.
“This is about two mission-driven organizations – both committed to making safe, high-quality health care more convenient and affordable – building something transformative together,” the CEO of Baylor Scott and White, Jim Hinton, said.
According to the letter of intent, Hinton will act as the first CEO of the combined system.
The letter also states the merger will include a unified board of trustees with an equal number of members comprised from both organizations.
The first chair of the new combined board will be Ross McKnight, the current chair of the Baylor Scott & White Holdings Board of Trustees.
The merger will see executive operations and support staff based in Austin, Dallas, Houston and Temple.
“Our mutual history of providing accessible and leading-edge healthcare for all people has laid a strong foundation for our shared vision to build a future together for the benefit of all Texans,” said Deborah Cannon, chair of the Memorial Hermann Health System Board of Directors.
The new system will operate under a new name, which will be determined before the agreement is closed. The merger is expected to be completed in 2019.
Hospital officials said Monday they would not re-brand their hospitals in Houston and Temple.