Ithaca, N.Y.-based Cayuga Health System and Arnot Health are seeking regulatory approval from the state to affiliate as members of a parent company which would comprise five hospitals.
Elmira, N.Y.-based Arnot Health has three hospitals, is affiliated with more than 300 physicians and operates more than 40 medical offices, according to its website. Cayuga includes two hospitals, a multispecialty medical group and has more than 2,200 employees across the health system.
Pending regulatory approval, the new entity would oversee $1 billion of medical services provided over a nine-county region, according to an Oct. 10 news release. Cayuga CEO Martin Stallone, MD, would serve as CEO of the parent company, with Arnot CEO Jonathan Lawrence serving as executive vice president.
The health systems said the affiliation will improve access to high-quality care and assure vital services are provided by an organization focused on benefiting local communities. Other benefits include capital improvements to facilities and investments in the combined entity's workforce.
Arnot and Cayuga aim to strengthen their workforce through investments in nursing, radiologic technology, medical school, physician assistant, graduate medical education and other professional training initiatives.
"Arnolt and Cayuga Health's shared values, and the leveraging of our organization's collective expertise will bring new benefits to our community," Mr. Lawrence said. "This partnership will ensure the essential, high quality healthcare services that community members and businesses across our region rely upon will continue to be delivered locally."