Palmetto Health Baptist Hospital in Columbia, S.C. (Chuck Burton / AP)

Palmetto Health and Greenville Health System, the two largest hospital systems in South Carolina, will merge. The resulting not-for-profit system will be the biggest private employer in the state and own 20% of the state's hospital beds. It also will have nearly $4 billion of annual revenue, or about "half of the annual state budget," the Post and Courier reported.

Why it matters: Hospitals continue to consolidate at rapid rates to offset declining Medicare and Medicaid payments and lower numbers of hospital visits. Palmetto and Greenville justified the merger in part by saying "for-profit health systems, motivated by shareholder returns and high profit expectations, are shredding the health care safety net." But many studies have shown hospital deals of any kind usually lead to higher prices and lower quality.

Money watch: Palmetto and Greenville both posted lower operating margins in their latest fiscal years. Palmetto has lost money from operations so far this year.

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Updated 24 mins ago - Politics & Policy

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Illustration: Eniola Odetunde/Axios

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  2. U.S.: Total confirmed cases as of 12:30 p.m. ET: 2,948,397 — Total deaths: 130,430 — Total recoveries: 924,148 — Total tested: 36,032,329Map.
  3. States: Arizona reports record 117 deaths in 24 hours.
  4. Public health: Trump administration invests $2 billion in coronavirus drugs.
  5. Business: Breaking down the PPP disclosure debacle
  6. World: Brazil's President Bolsonaro tests positive for coronavirus — India reports third-highest coronavirus case count in the world.

Mary Trump book: How she leaked Trump financials to NYT

Simon & Schuster

In her new memoir, President Trump's niece reveals how she leaked hordes of confidential Trump family financial documents to the New York Times in an effort to expose her uncle, whom she portrays as a dangerous sociopath.

Why it matters: Trump was furious when he found out recently that Mary Trump, a trained psychologist, would be publishing a tell-all memoir. And Trump's younger brother, Robert, tried and failed to block the publication of "Too Much and Never Enough: How My Family Created the World's Most Dangerous Man."

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Photo: Andre Borges/NurPhoto via Getty Images

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