Unlinked Two Hexes Removed Low Cost
Which allows you (especially in PvE) to run a standard Prot / Heal hybrid without having to fuss about with speccing into an alternative line, and thus possibly reducing the effectiveness of your primary purpose. Anyway, here's what i've got, and if you like feel free to try it out and suggest changes that will (hopefully) make the build as a whole better. I'm sure its been done, but I haven't seen it recently.
Divine Favor - 12 + 1 + 1
Protection Prayers - 9 + 1
Healing Prayers - 9 + 1
1. Gift of Health
2. Reversal of Fortune
3. Signet of Devotion
4. Shield of Absorption
5. Protective Spirit
6. Expel Hexes
7. Dismiss Condition
8. Rebirth (PvE)
IMHO it works quite well in PvE, however in PvP I can see its greatest flaw (imo) to be a lack of kiting skills, for to my knowledge Mesmers don't really have too many, aside from hexing the target you're running from with a slow spell.
The build would obviously be different in PvP, for example:
1. Gift of Health
2. Reversal of Fortune
3. Signet of Devotion
4. Shield of Absorption
5. Protective Spirit
6. Expel Hexes
7. Dismiss Condition
8.
Gear wise I prefer Shepherd's Armor (+HP) with my basic runes, primary on the head, and vigor. With any extra space used up by Vitae runes, as I personally don't have problems with energy, and thus prefer armor or health.
I generally use a Fiery Flame Spitter of Enchanting, 10% HSR & +20% Enchant. With either a +10 vs Piercing & +30 HP & +16 AL (+8 AL) shield, or a 10% HSR & +30 HP & +12 Energy offhand.

with only 12 (well, should run 13 at least) in Prot, you're getting up to 3 hexes, up to 3 conditions (usually don't matter), a 180 heal not including df. it might cost more, but with expel you will still have at least one hex left AND you will need to use 5e to actually possibly heal up with gift, and divert still wins.