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Carolinas HealthCare expanding to manage Cone Health

The Charlotte Observer, June 13, 2012

Carolinas HealthCare System, already the second largest public hospital system in the country, is expanding again. Officials announced Tuesday that they've signed a 10-year management services agreement with Greensboro-based Cone Health, which has five hospitals and more than $1 billion in annual revenue. When the agreement takes effect Oct. 1, Carolinas HealthCare will own or manage nearly 40 hospitals and have $8 billion in annual revenue. Financial terms of the agreement were not disclosed. It's the first time Carolinas HealthCare has affiliated with a healthcare institution in the Triad area that includes Greensboro, Winston-Salem and High Point.