Agreement Moves Triad Hospitals Closer To Merger

Leaders from Cone Health in Greensboro and Randolph Health have taken steps toward what could be a merger between the two groups. If approved it could lead to a major investment in Asheboro's hospital.

Officials from both organizations have signed a non-binding letter of intent. What any kind of final agreement would look like is still being worked out. But some of the details include Cone Health providing more than $100 million in investment in Randolph Health. Cone would also help develop a capital and site plan for Randolph Health.

Cone Health CEO Terry Aiken says a long-term agreement could bring benefits to both groups.

“We really are looking at how we can be stronger together than either of us could be separately,” he says. “And we are of the belief that through a deeper partnership we can cover a broader geographic area with top flight health-care services.”

The core services already offered in Asheboro would remain there, he says.

A decision on whether to proceed with the agreement should come in the next three or four months, but likely wouldn't take effect until next year.

The organizations entered into a management services agreement last year.