A look at Risant Health’s acquisition of Cone Health, nearly 9 months in

It’s been nearly nine months since Greensboro, N.C.-based Cone Health joined Risant Health, a nonprofit created by Oakland, Calif.-based Kaiser Permanente, a move that Cone Health CFO Andy Barrow said has helped the system accelerate its value-based care mission. 

“We joined Risant Health to help us accelerate and excel in value-based care,” Mr. Barrow said during a Becker’s CFO and Revenue Cycle Podcast. “It allows us, as a Risant member, to bring the expertise and capabilities that Kaiser has to our health system so that we can further our value-based care mission to the benefit of our patients, ultimately meaning better outcomes, better experience and lower cost.”

Cone Health comprises five hospitals, six ambulatory care centers, more than 150 care locations, more than 13,000 employees and over 1,600 providers. The health system was the second acquisition for Risant Health, which aims to take on three to four more community-based health systems over the next five years. 

“Risant wants to make sure that the organizations that join are financially strong, financially sustainable and stable,” he said. “That’s been a really important part of the process.”

Mr. Barrow said that Cone Health values Risant’s model, which promotes local decision making, strategy and branding, making it a great fit for the health system. 

“We have a lot of autonomy to do the right things, as long as we are aligned strategically, which we are from the outset.”

Looking toward the future, Mr. Barrow said growth will remain central for Cone Health, particularly in ambulatory services and specialty care. He also did exclude the possibility for future M&A activity.

“I wouldn’t rule out M&A growth, maybe not in 12 months or even 24, but when the right opportunity comes along, we certainly would consider it.”.

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