The board of Long Island College Hospital in Brooklyn, N.Y., has approved a merger with SUNY Downstate Medical Center, also in Brooklyn, according to a New York Post report.
As part of the deal, LICH will leave New York City-based Continuum Health Partners. SUNY Downstate would absorb LICH's $170 million in debt, but would get $60 million in state funds for service upgrades, according to the report.
Continuum Health Partners and SUNY have been discussing the deal since the beginning of the year.
The deal is awaiting approval from the New York State Department of Health.
Read the New York Post report on Long Island College Hospital.
Read more coverage on Long Island College Hospital:
- Long Island College Hospital to Merge With SUNY Downstate Medical Center
- Long Island College Hospital Moves Forward With Merger Plans
As part of the deal, LICH will leave New York City-based Continuum Health Partners. SUNY Downstate would absorb LICH's $170 million in debt, but would get $60 million in state funds for service upgrades, according to the report.
Continuum Health Partners and SUNY have been discussing the deal since the beginning of the year.
The deal is awaiting approval from the New York State Department of Health.
Read the New York Post report on Long Island College Hospital.
Read more coverage on Long Island College Hospital:
- Long Island College Hospital to Merge With SUNY Downstate Medical Center
- Long Island College Hospital Moves Forward With Merger Plans