Risant Health has agreed to acquire Integris Health, Oklahoma’s largest nonprofit health system, pending regulatory approval, the Kaiser Permanente-backed hospital operator announced Wednesday. The deal marks Risant’s third acquisition since launching two years ago, which aims to stabilize smaller nonprofit health systems while expanding value-based care access across the U.S.
Financial Challenges Drive the Acquisition
Integris will retain its name, medical staff, and leadership under the proposed acquisition, though financial terms and closing timeline remain undisclosed. The Oklahoma-based system operates 20 acute and specialty hospitals and maintains the state’s largest physician network. Joining Risant could provide critical support as Integris confronts significant financial pressures.
The health system has operated at a loss over the past two years, with net income dropping to $12 million in its 2025 fiscal year from nearly $27 million in the prior year despite higher investment gains. S&P Global Ratings downgraded Integris’ rating last summer due to a worsened balance sheet and declining cash reserves.
In April, Integris warned local news outlets it expects revenue losses exceeding $130 million by 2026 due to federal funding cuts from the “Big Beautiful Bill” legislation, alongside planned service line and staff reductions. These pressures leave Integris poorly positioned to absorb additional financial strain independently.
Risant’s Expansion Strategy
Risant, launched by Kaiser Permanente in 2024, has previously acquired Pennsylvania-based Geisinger in 2024 and North Carolina-based Cone Health in 2025. According to Risant, partnerships with acquired systems have improved wait times and care access, outcomes the company says it can replicate at Integris. Geisinger notably achieved a 1% operating margin improvement after joining Risant, according to the announcement. These acquisitions align with Kaiser’s statement that the organization was aiming for five buys at the time of its launch.
Leadership Perspectives
“These are investments and capabilities we couldn’t make or build on our own, not at this scale and not this fast,” stated Timothy Pehrson, CEO of Integris, in the press release. His comments reflect the operational and financial challenges facing the organization.
Risant’s approach represents a strategic move to shift healthcare delivery from fragmented, episodic care toward value-based models emphasizing evidence-based treatments that achieve healthier outcomes for more people, as described by Greg Adams, chair and CEO of Kaiser Permanente, in the same announcement.
