Plans are under way for a partnership between Utica, N.Y. based health systems St. Elizabeth Medical Center and Faxton St. Luke's Healthcare, but a hoped-for deadline of this year to close on a deal is unlikely, according to a report by the Observer-Dispatch.
Due diligence is ongoing since the two signed a memorandum of understanding in December, when both parties expressed that they expected to complete the process within three months and finish the affiliation during the 2013 calendar year. However, there are many regulatory hurdles remaining, including obtaining a certificate of need, as well as approval from the Federal Trade Commission and the religious authorities that oversee St. Elizabeth, before the boards can sign a definitive agreement.
The proposed name for the merged system would be Mohawk Valley Health System, but both hospitals would retain their identities, with St. Elizabeth subject to Catholic clinical policies and Faxton St. Luke 's remaining a secular entity, according to the report.
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Due diligence is ongoing since the two signed a memorandum of understanding in December, when both parties expressed that they expected to complete the process within three months and finish the affiliation during the 2013 calendar year. However, there are many regulatory hurdles remaining, including obtaining a certificate of need, as well as approval from the Federal Trade Commission and the religious authorities that oversee St. Elizabeth, before the boards can sign a definitive agreement.
The proposed name for the merged system would be Mohawk Valley Health System, but both hospitals would retain their identities, with St. Elizabeth subject to Catholic clinical policies and Faxton St. Luke 's remaining a secular entity, according to the report.
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