HIGH POINT, N.C. — High Point-based Cornerstone Health Care announced Wednesday that Wake Forest Baptist Medical Center has signed a letter of intent to purchase Cornerstone.
The purchase would allow the 300+ provider practice to continue to operate as a separate business unit and maintain its leadership position as one of the top performing Accountable Care Organizations in the country, Cornerstone said in a news release.
The organizations are now in a due diligence period and will share more information when that process is complete.
Cornerstone Health Care is a physician-owned and led multi-disciplinary practice with more than 80 locations in communities throughout central North Carolina. These communities include High Point, Winston-Salem, Greensboro, Asheboro, Hickory, Jonesville and West Jefferson. About half of the providers specialize in primary care.
“Wake Forest Baptist is committed to the ongoing development and growth of Cornerstone, and to advancing population health efforts in the region through collaboration with Cornerstone and its providers,” Cornerstone said in a news release. “Cornerstone and Wake Forest Baptist Medical Center have been working closely together over the last two years to build a successful clinically integrated network company in CHESS, and are dedicated to enhancing the health of those in our combined communities now and into the future.”
Recent Medicare quality and cost performance outcomes show Cornerstone as one of the nation’s top accountable care organizations (ACOs), ranking sixth in the country in quality among all ACOs.