Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

438-bed New York hospital nixes merger plans after 2-year search

After a two-year search for a potential affiliate, Schenectady, N.Y.-based Ellis Medicine called off its search and said it plans to remain independent, according to The Daily Gazette.

Ellis Medicine President and CEO Paul Milton said the organization's 23-member board of directors decided to forgo a potential merger or affiliation during a meeting July 10. He noted that while a radical change to the healthcare landscape or major downturn in the enterprise's financial position may reopen the discussion, officials have no plans to consider a merger or affiliation again in the near future, according to the report.

Ellis Medicine reportedly informed employees of the decision to search for a potential partner, but concealed most of the details since the process began in summer 2016. The organization, which comprises a 438-bed hospital and several health centers, issued a request for proposals from interested parties in 2017 and narrowed down the list to four finalists earlier this year.

Officials met with staff July 12 to relay the news, which was reportedly met with relief, support and even spontaneous applause, the report states.

More articles on transactions and valuations:
6-hospital California system explores sale to ease financial pressure
Geisinger purchases medical office building occupied by its rival for $6.4M
3 recent healthcare partnerships and transactions

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Top 40 Articles from the Past 6 Months