INTEGRIS Health, Oklahoma’s largest nonprofit health system, has agreed to become part of Risant Health, the nonprofit that Kaiser Permanente set up to pull community health systems into its model of value-based care.
The two organizations announced the definitive agreement on Wednesday. If regulators sign off, INTEGRIS will be the third system under Risant, after Pennsylvania’s Geisinger and North Carolina’s Cone Health. The deal could close in early 2027. Financial terms were not disclosed.
“These are investments and capabilities we couldn’t make or build on our own, not at this scale and not this fast,” said Timothy Pehrson, INTEGRIS Health’s chief executive.
What is INTEGRIS Health bringing to Risant?
Based in Oklahoma City, INTEGRIS runs 10 acute care hospitals and 10 specialty hospitals across the state, along with physician clinics, urgent care, rehabilitation, behavioral health, home health and hospice services. It has the state’s largest physician network and about 13,000 employees.
It is not a system in crisis, but its margins are thin. INTEGRIS reported $3.3 billion in operating revenue and a $22.3 million operating loss for the fiscal year that ended June 30, 2025, according to Fierce Healthcare’s review of its financial filings. In the nine months through March 2026, revenue rose 8.9% and the operating loss narrowed to $1.1 million.
Will patients and staff notice a change?
Not right away, the systems say. INTEGRIS will keep its name, brand, medical staff, leadership team and governing boards. It will continue to contract with other health plans and work with independent physicians, so patients covered by other insurers are not expected to lose access.
Pehrson also sought to reassure donors, saying in a video message that “any dollar anyone has ever given to INTEGRIS Health stays here at INTEGRIS Health.”
What changes is the support behind the system. INTEGRIS doctors will get access to Risant’s value-based care platform, which includes data tools, clinical guidance and programs designed to keep patients healthier and out of the hospital.
What has Risant done at Geisinger and Cone Health?
Kaiser Permanente launched Risant in 2023 with plans to invest about $5 billion to bring in roughly half a dozen regional systems over five years, with a goal of $30 billion to $35 billion in annual revenue. Geisinger and Cone Health joined in 2024. Risant reported $12.6 billion in operating revenue in 2025.
The companies pointed to early results. At Geisinger Community Medical Center, emergency patients are getting care about 60% faster since a program called Care Without Delay began. Guidance tools for primary care doctors have freed up about 490 specialist appointments a month at Geisinger, and an AI note-taking assistant has cut the time Cone Health clinicians spend on notes by almost 14% per visit. Geisinger has seen close to a 1% improvement in its operating margin.
“Together, Risant Health and its organizations are moving health care from siloed, episodic care to a value-based care approach,” said Greg Adams, Kaiser Permanente’s chair and CEO.
Risant is also changing leaders. Its first CEO, Jaewon Ryu, stepped down in July for family reasons, and former Presbyterian Healthcare Services chief Dale Maxwell is serving as interim CEO, Fierce Healthcare reported.
What does the deal mean for health care businesses?
The deal shows where nonprofit hospital consolidation is heading. Instead of selling outright to a larger chain, regional systems are joining national platforms that promise capital and technology while leaving local branding in place. For INTEGRIS, that means outside money for facilities, growth and technology.
For companies that sell to hospitals, a Risant-backed INTEGRIS could mean new buying patterns. Value-based care rewards keeping patients out of the hospital, which tends to push spending toward primary care, care management, home health, remote monitoring and the medical equipment that lets patients recover at home. Vendors of data and AI tools, like the ambient note-taking used at Cone Health, are also likely to see demand.
Health systems that stay independent face more pressure to find their own partner. We have tracked where the money is moving in our report on health care business opportunities and in our look at new rural health funding reaching hospitals.
Key takeaways
- INTEGRIS Health signed a definitive agreement on Oct. 21, 2026 to become part of Kaiser Permanente’s Risant Health, pending regulatory approval.
- It would be Risant’s third system, after Geisinger and Cone Health, with closing possible in early 2027. Terms were not disclosed.
- INTEGRIS has 20 hospitals, about 13,000 employees and $3.3 billion in annual revenue, and will keep its name, leaders and boards.
- The deal points to more spending on value-based care tools, primary care and home-based services in Oklahoma.
Frequently asked questions
Is Kaiser Permanente buying INTEGRIS Health?
INTEGRIS is joining Risant Health, a nonprofit created by Kaiser Permanente. Risant would become INTEGRIS’s parent organization, but INTEGRIS keeps its name, brand, medical staff, leadership and boards.
When will the INTEGRIS and Risant deal close?
The deal is pending regulatory approvals. Fierce Healthcare reported that it could close in early 2027.
Will INTEGRIS patients need Kaiser Permanente insurance?
No. The organizations said INTEGRIS will continue to work with other health plans, provider organizations and independent physicians.
Which health systems are part of Risant Health?
Geisinger in Pennsylvania and Cone Health in North Carolina joined Risant in 2024. INTEGRIS Health in Oklahoma would be the third.
