In a move designed to bolster healthcare, medical education and biomedical research, Lifespan Health and Brown University, both based in Providence, R.I., finalized their expanded affiliation agreements.
As part of the agreements, Lifespan will undergo a rebranding effort, adopting the name Brown University Health later this year. This rebranding, to be developed over the coming months, is intended to improve Lifespan's ability to attract and retain physicians, according to a June 20 news release from Brown.
Both organizations will continue to operate independently after the rebrand.
The agreements also include mutual financial investments between Lifespan and Brown. Brown University will invest $15 million to $25 million each year in Lifespan, adding up to $150 million over seven years. This money will help Lifespan financially and support their shared goals, according to the release. After seven years, Lifespan will invest $15 million each year to support the Warren Alpert Medical School's education and research programs.
The proposed agreements were announced in October.
Lifespan operates five hospitals, three of which are academic teaching hospitals: Rhode Island Hospital, Miriam Hospital and Newport (R.I.) Hospital. Many Lifespan providers are also faculty members at Brown's Warren Alpert Medical School.