Burlington-based University of Vermont Health Network has expanded its reach in New York by adding Malone, N.Y.-based Alice Hyde Medical Center as its third hospital in the state.
UVM Health Network and Alice Hyde have been clinically affiliated since 1997. Looking to expand their relationship, the two organizations began partnership talks in April 2015. After several months of due diligence work, UVM Health Network and Alice Hyde entered a definitive agreement in October 2015, and the deal subsequently received approval by various New York State agencies.
As an affiliate of UVM Health Network, Alice Hyde will have significantly greater purchasing and negotiating power, as well as access to more capital resources.
"Joining The University of Vermont Health Network is the next logical step in the development of our relationship with our regional partners to bring high quality care close to home," said Douglas F. DiVello, president and CEO of Alice Hyde.
With the transaction complete, Alice Hyde's name has been changed to University of Vermont Health Network – Alice Hyde Medical Center.
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