The proposed merger between Kingsport, Tenn.-based Wellmont Health System and Johnson City, Tenn.-based Mountain States Health Alliance is now in the hands of state and federal regulators.
Wellmont and MSHA began exclusive merger talks last April. The two organizations inked a definitive agreement after a period of due diligence, and the boards of both health systems approved the agreement.
On Tuesday, the organizations announced they had filed applications for a Certificate of Public Advantage in Tennessee and a cooperative agreement in Virginia, according to the Bristol Herald Courier. Once the application is deemed complete, the Tennessee Department of Health will begin a 120-day review period. There is a 150-day review period in Virginia, according to the report. The merger also needs approval from the Federal Trade Commission.
Although few details have been released about the transaction, Wellmont and MSHA officials said the deal would create a new health system with a new name.
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