Health-Care Groups OK Merger

Two large local doctors’ groups, Orange-based St. Joseph Medical Corp. and Monarch HealthCare Inc. of Mission Viejo, said Thursday that they have agreed to merge.

The combined firm, creating one of the largest physician organizations in Orange County, would serve about 230,000 members of managed care plans.

It would offer a network of about 900 doctors and have annual revenue of about $150 million.

Charles T. Madden, president and chief executive at St. Joseph, would be president and chief executive of the new company.

The agreement must be approved by both state health-care regulators and shareholders of both companies.