The boards of NYU Langone Medical Center and Continuum Health Partners, both New York City-based non-profits, have approved a memorandum of understanding for a merger that would create one of the largest healthcare systems in New York City, according to a New York Times report.
Combining NYU Langone Medical Center, a highly specialized academic medical center, and Continuum Health Partners' network of New York City hospitals, including Beth Israel Hospital, Roosevelt Hospital, St. Luke's Hospital and New York Eye and Ear Infirmary, could give the resulting healthcare system immense market power and a competitive advantage, according to the report.
In a joint statement, the boards of both organizations said they would explore how their partnership "could create a fully integrated healthcare delivery system for the benefit of the people they serve, including underserved populations," according to the report.
The deal is still subject to final confirmation by the boards and regulatory approval, including a review by the Federal Trade Commission, the State Health Department and the State Dormitory Authority, a financing and constructing agency that carries some debt for Continuum. According to the report, at least one patient advocacy group promised to challenge the proposed merger.
Prime Healthcare Acquires Pampa Regional Medical Center in Texas
Connecticut AG Approves Yale-New Haven, Hospital of Saint Raphael Merger
Combining NYU Langone Medical Center, a highly specialized academic medical center, and Continuum Health Partners' network of New York City hospitals, including Beth Israel Hospital, Roosevelt Hospital, St. Luke's Hospital and New York Eye and Ear Infirmary, could give the resulting healthcare system immense market power and a competitive advantage, according to the report.
In a joint statement, the boards of both organizations said they would explore how their partnership "could create a fully integrated healthcare delivery system for the benefit of the people they serve, including underserved populations," according to the report.
The deal is still subject to final confirmation by the boards and regulatory approval, including a review by the Federal Trade Commission, the State Health Department and the State Dormitory Authority, a financing and constructing agency that carries some debt for Continuum. According to the report, at least one patient advocacy group promised to challenge the proposed merger.
More Articles on Hospital Transactions:
LifePoint Hospitals to Acquire Woods Memorial Hospital in TennesseePrime Healthcare Acquires Pampa Regional Medical Center in Texas
Connecticut AG Approves Yale-New Haven, Hospital of Saint Raphael Merger