Kaiser Foundation Hospitals and Geisinger Health are launching Risant Health.

According to a news release, a definitive agreement makes Geisinger the first health system to join Risant Health “to expand access to value-based care in more communities across the country.”

Upon regulatory approval, Geisinger becomes part of the new organization through acquisition.

Risant Health is a new nonprofit organization, created by Kaiser Foundation Hospitals, to expand and accelerate the adoption of value-based care in diverse, multi-payer, multi-provider, community-based health system environments.

“Risant Health’s vision is to improve the health of millions of people by increasing access to value-based care and coverage and raising the bar for value-based approaches that prioritize patient quality outcomes,” the news release said. “In addition to Geisinger, Risant Health will grow its impact by acquiring and connecting a portfolio of likeminded, nonprofit, value-oriented community-based health systems anchored in their respective communities.”

Health systems that become part of Risant Health will continue to operate as regional or community-based health systems while gaining expertise, resources and support through Risant Health’s value-based platform.

Risant Health will operate separately and distinctly from Kaiser Permanente’s core integrated care and coverage model while building upon Kaiser Permanente’s 80 years of expertise in value-based care.

“Our mission calls on us to find new ways to promote high-quality, affordable and evidence-based care with equitable and improved health outcomes. Through Risant Health, we will make our value-based care expertise, technology and services available to community-based health systems, like Geisinger, to strengthen their ability to provide value-based care models with a focus on high-quality and equitable health outcomes,” said Greg. A. Adams, chair and CEO of Kaiser Permanente, according to the news release. “We believe Risant Health can deliver a transformative new solution to America’s systemic health care problems. And, given its history in this space, we can think of no better organization than Geisinger to be the inaugural health system to join Risant Health.”

“Geisinger is excited for what joining Risant Health will mean both for our system and for the communities we serve in Pennsylvania,” said Jaewon Ryu, MD, JD, president and CEO of Geisinger Health, according to the news release. “Geisinger will be able to accelerate our vision and continue to invest in new and existing capabilities and facilities, while charting a path for the future of American health care, through Risant Health.”

Ryu has been selected to serve as CEO of Risant Health. Ryu will transition from his current role as president and CEO at Geisinger Health as the transaction between Risant Health and Geisinger closes.