Cone, Sentara Healthcare Merger Canceled By Mutual Agreement

A plan that would have merged Cone Health with a Virginia-based health care provider is off.

Officials with Cone and Sentara Healthcare announced a deal back in August that would have combined the two nonprofit providers into one organization with an annual revenue of more than $11 billion.

Now Cone Health says the two sides have mutually decided not to go forward with the merger. Last week, the board of directors of both organizations agreed to end the affiliation plans.

In a release, Greensboro-based Cone Health officials say both organizations can serve their communities better by remaining independent.

The combined organization would have been headquartered in Norfolk while Greensboro would have served as a regional hub.

At the time of the August announcement, Cone Health had about 13,000 employees, and Sentara around 30,000.