Newco, inc. ("newco") will become the sole member of mountain states health alliance, inc. ("msha") and wellmont health system ("wellmont"), and a supporting organization for msha and wellmont. Msha is a public benefit corporation and the parent company of a large multi-state nonprofit, tax exempt health care delivery system which operates hospitals and health care facilities in tennessee and virginia. Likewise, wellmont is a public benefit corporation with hospitals and health care facilities in tennessee and virginia. Newco was formed in order to: enhance system long-term financial stability and position system to thrive in a transforming health care delivery and payment system while addressing the most critical healthcare needs of communities in northeast tennessee and southwest virginia. Wellmont and msha share a common and unifying charitable mission to provide high quality, affordable health care and health care-related services; to expand access to health care services; and to p

Health

Newco, inc. Did not incur revenue or expenses and no activities were performed during fy17, newco's first full year of existance. Newco was established to serve as the parent company for wellmont health system and mountain states health alliance upon affiliation between the two health systems. At june 30, 2017, the systems were working with the states of tennessee and virginia on the application process required to obtain approval for merger.