Cogent Healthcare and Hospitalists Management Group announced their intent to merge, creating what would be the nation's largest hospitalist firm, the two companies announced this week.
The new firm--Cogent-HMG--will have nearly 1,000 hospitalist physicians on staff serving hospitals in 27 states. The Nashville-based Cogent has focused primarily on larger hospitals in urban areas, while the Ohio-based HMG has worked with smaller facilities in rural and suburban areas.
"Together, we will have a stronger platform to help hospitals meet healthcare reform demands mandating greater transparency, quality and cost efficiency," said HMG Chief Executive Officer Steven Houff. "The combined company will focus on creating closer alignment between hospitals and physicians, which will be necessary in light of reimbursement changes and ultimately accountable care."
Terms of the deal were not disclosed. Houff will serve as CEO of the new company, which will be based in Nashville. The transaction is expected to close by late spring.
For more information:
- here's the announcement