Ballad Health

“Newco, inc. ("newco") will become the sole member of mountain states health alliance, inc. ("msha") and wellmont health system ("wellmont"), and a supporting organization for msha and wellmont. Msha is a public benefit corporation and the parent company of a large multi-state nonprofit, tax exempt health care delivery system which operates hospitals and health care facilities in tennessee and virginia. Likewise, wellmont is a public benefit corporation with hospitals and health care facilities in tennessee and virginia. Newco was formed in order to: enhance system long-term financial stability and position system to thrive in a transforming health care delivery and payment system while addressing the most critical healthcare needs of communities in northeast tennessee and southwest virginia. Wellmont and msha share a common and unifying charitable mission to provide high quality, affordable health care and health care-related services; to expand access to health care services; and to promote and improve the health care status of the communities they serve. Wellmont and msha concluded that it is in the best interests of the residents of the respective communities that they combine their organizations by establishing a single parent company (newco) to oversee all of the assets and operations of the previously separate operations and all of their respective affiliates for the purpose of enhancing the provision of high quality and cost effective health care that such a unified structure will facilitate, and for the purpose of positioning the combined systems to adapt effectively to the changes taking place locally and nationally in the health care delivery and financing systems. In addition, newco's purposes include the promotion of high-quality, affordable health care services, improving access to health care, and promoting and improving the health care status of the communities it serves. These purposes will be achieved through its ownership and management of msha and wellmont, which will in turn provide acute care hospital and professional medical services, and are in support and in furtherance of wellmont's and msha's mission to promote high-quality health care services for a broad cross section of the community. The health care system operated by newco, msha, wellmont and their affiliates will- establish new unifying mission, vision, and values statements that honor our heritage and charter our future be one of the strongest health systems in the country, known for outstanding clinical outcomes and superior patient experiences be one of the best health system employers in the country and one of the most attractive health systems for physicians and employee team members create new models of joint physician and administrative leadership to shape the future of health care in our region through substantial physician influence and direction partner with physicians to achieve better quality at lower cost for patients, businesses, and payers achieve long-term financial stability and sustainability through wise stewardship of resources, avoidance of waste, and sound fiscal management advance high-level services so that more people can receive the care they need close to home be a national model for rural health care delivery and rural access to care work with regional educational and allied health partners to identify health gaps and disparities and effectively meet community health needs create an efficient, high quality health care system that attracts employers to our region and creates long-term economic opportunity build new population health models and leverage electronic health records and community engagement programs to reduce unhealthy behaviors and improve the overall health status of our region work with academic partners, in particular east tennessee state university, in new ways to bolster medical school and allied health programs and attract research investments establish innovative philanthropic partnerships for healt”

“Newco, inc. Did not incur revenue or expenses and no activities were performed during fy17, newco's first full year of existance. Newco was established to serve as the parent company for wellmont health system and mountain states health alliance upon affiliation between the two health systems. At june 30, 2017, the systems were working with the states of tennessee and virginia on the application process required to obtain approval for merger.”