Upstate New York hospitals reveal financial details of proposed merger

For the first time, Syracuse, N.Y.-based Upstate University Hospital and Crouse Hospital, also in Syracuse, have revealed details of a proposed merger, The Post Standard-Syracuse reported Aug. 15. 

Upstate University Hospital would pay nothing for its acquisition of Crouse Hospital, but it would take on about $80 million in debt from Crouse. State taxpayer money would not be used to cover the acquisition. 

No job cuts would occur in the merger. 

The controversial merger would leave only two hospitals in Syracuse and Central New York, the other being St. Joseph's Health. 

Mantosh Dewan, MD, president of Upstate, told the publication that the hospitals did not want to share any information until all necessary paperwork was submitted to the state and a final plan was agreed upso that the public and employees were not misinformed.

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars