As one company GHS and Palmetto Health are:
• The largest health system in South Carolina with 13 hospitals and hundreds of physician practices and ambulatory centers, serving 1.2 million patients annually, generating $3.9 billion in annual net revenue, the majority of which is reinvested to support our core mission.
• One of the 50 largest health care systems in the country.
South Carolina’s leading provider of charity and uncompensated care with hundreds of millions of dollars provided annually and nearly one-third of the state’s Medicaid services.
• The largest private employer in South Carolina with more than 28,000 team members and 2,800 physicians.
Through this affiliation, the new company will improve the patient experience, clinical quality and access to care, and address rising health care costs.
South Carolina has some of the highest rates of obesity, diabetes, stroke, and cardiovascular and pulmonary disease in the country. As health care continues to evolve, labor costs and other expenses continue to rise at a faster rate than patients’ ability to pay.
This new health company will have the scale, scope and resources required to address the serious health issues of the people it serves. It also will continue to be a not-for-profit, mission-driven organization committed to caring for our community members, and making health care more affordable and accessible.
Nearly half of South Carolinians will be within 15 minutes of the new health company’s physician practices, hospitals and other health care facilities, according to the partners’ statement.
The new company will have the potential to invest up to an additional $1 billion over the next five years in programs, technology, facilities and team members.
Palmetto Health CEO Charles D. Beaman Jr. stated, “Both organizations are committed to ensuring our community members receive the health care they need, regardless of their ability to pay. Our integration to become a new health company continues our commitment to serving our patients. We will create a culture that attracts, retains and develops the highest quality and diversity of team members, and continue to teach the next generation of physicians and other caregivers.”
“Greenville Health System and Palmetto Health are joining together from individual positions of strength,” said Greenville Health System CEO Michael C. Riordan. “We have a long history of successful collaboration, as well as a strong cultural fit and mutual commitment to make South Carolina healthier. Together we will continue to ensure our community members, including those in rural areas, have access to high-quality, locally based care.”
A newly organized board with equal representation from boards affiliated with Greenville Health System and Palmetto Health will oversee the new health company. Riordan and Beaman will serve as co-CEOs, sharing responsibilities.
GHS and Palmetto Health will continue to offer care and services as two separate, independent organizations during the next phases of due diligence. Both organizations are seeking necessary third-party approvals.
For more information, visit SCBetterTogether.org.