Merger called off between Baylor Scott & White and Memorial Hermann

A merger between Memorial Hermann and Baylor Scott & White Health would have combined 68 hospital campuses and more than 1,100 sites of care across 30 Texas counties. (Baylor Scott & White)

The deal is off between Texas healthcare giants Memorial Hermann Health System and Baylor Scott & White Health.

First reported on Tuesday morning, the ending of talks to complete a megamerger came after both systems concluded they were better without it, according to a joint statement.

"Ultimately, we have concluded that as strong, successful organizations, we are capable of achieving our visions for the future without merging at this time," the statement read. "We will continue to seek opportunities for collaboration as two forward-thinking, mission-driven organizations."

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The merger, first announced in October, would have combined 68 hospital campuses and more than 1,100 sites of care across 30 Texas counties. 

RELATED: Baylor, Scott & White Health, Memorial Hermann Health System announce merger

It also would have accounted for more than 10 million patient encounters each year, more than $14 billion in combined revenue and more than 14,000 employed and independent physicians and two health plans.