Glens Falls (N.Y.) Hospital filed a certificate of need with the state last week to make Albany (N.Y.) Medical Center its parent organization, according to the Albany Business Review.
Under the agreement, Glens Falls would remain a separate nonprofit organization and operate its own hospital, but the affiliation would allow Albany Medical Center to name members to Glens Falls Hospital's board, approve annual term plans and appoint or remove the hospital's president and CEO.
The decision to affiliate, first announced in October, will help Glens Falls Hospital overcome financial pressures, according to the report.
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