James Montgomery, who currently serves as CEO at Corpus Christi (Texas) Medical Center, will lead the Touro facility.
Under the new system, which will be called Louisiana Children’s Medical Center, Children’s and Touro are likely to continue operating as separate entities with their own boards, with representatives from each hospital serving on the system board. Children’s also committed $100 million to Touro over the next five years as part of the agreement, according to the report.
Financially-troubled Touro, which has experienced net operating losses for several years, will be helped by Children’s, which had a net operating revenue of $215 million in 2008.
Read the Times-Picayune’s report on the new Louisiana Children’s Medical Center.
