Executives at Dallas-based Baylor Health Care System and Temple, Texas-based Scott & White Healthcare have established a June 30 target date to close on their proposed merger, according to a Dallas Business Journal report.
Baylor and Scott & White announced their intent to merge this past December. The new system, Baylor Scott & White Health, will contain 42 hospitals and 34,000 employees across 25 Texas counties, making it the largest non-profit health system in the state and one of the largest in the country.
Last week, Baylor filed documents related to its bond debt, explaining that its letter of intent to merge with Scott & White would be terminated if a definitive agreement was not signed by April 30, unless that date was extended. Baylor and Scott & White have not entered into a definitive agreement yet, but both systems have agreed to extend the intent agreement and conduct further due diligence with hopes of completing the deal by the end of June.
Baylor and Scott & White announced their intent to merge this past December. The new system, Baylor Scott & White Health, will contain 42 hospitals and 34,000 employees across 25 Texas counties, making it the largest non-profit health system in the state and one of the largest in the country.
Last week, Baylor filed documents related to its bond debt, explaining that its letter of intent to merge with Scott & White would be terminated if a definitive agreement was not signed by April 30, unless that date was extended. Baylor and Scott & White have not entered into a definitive agreement yet, but both systems have agreed to extend the intent agreement and conduct further due diligence with hopes of completing the deal by the end of June.
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