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Ga. hospitals to launch new insurance company

ATLANTA — Two of Atlanta's largest hospital systems have announced plans to form their own insurance company.

Piedmont Healthcare and WellStar Health System have announced plans to launch a variety of insurance products in 2014 for Piedmont and WellStar employees and their relatives.

The health systems will operate their new insurance company as a joint venture for-profit enterprise.

The Associated Press reported that the details of the plan are still being finalized. The company expects to operate as an HMO, but plans could eventually expand to include other service providers.