COLUMBIA, S.C. — The senior corporate leadership of Palmetto Health will be relocating to the Upstate now that they've merged with Greenville Health System to form a new company, Prisma Health.

The company announced Friday that the streamlining process of the business deal is beginning. 

Prisma Health announced Friday that it has launched a national search for a new chief executive officer to lead the organization, and that the executive home office will be located in Greenville.

Current Prisma Health Co-CEOs Michael Riordan, formerly of Greenville Health System, and Charles Beaman, formerly of Palmetto Health, will step down from their roles when their contracts expire at the end of 2019. The two men are supporting the search for a new CEO and Prisma Health hopes to have a new leader in place by late summer 2019, with a full transition of leadership by January 1, 2020.

RELATED: Palmetto Health hospitals will now be called 'Prisma Health'

Meanwhile, the move by the executive staff to Greenville is part of Prisma Health's plan to "improve synergies and reduce inefficiencies."

The new executive office in Greenville will be home to up to 60 senior corporate leaders and related support staff, including the new CEO. 

At the local level, leaders and team members in the Midlands and Upstate will continue to live and work in their communities, care for patients in local hospitals, clinics, and physician offices.

The health organization confirmed earlier this month that 140 positions at Palmetto Health Richland and Palmetto Health-USC Medical Group had been eliminated in an effort to cut expenses and deal with declining revenue.

RELATED: Palmetto Health eliminates 140 positions

About 800 finance and information technology team members from Greystone and Parklane locations will be moved to newly leased office space on Colonial Life Boulevard by mid-summer.

With the merger, Prisma Health is now the largest for-profit health organization in South Carolina. Between affiliated GHS and Palmetto Health locations, Prisma Health serves about 25 percent of the state's population and 42 percent of South Carolinians now live within 15 minutes of one of its outpatient facilities.