If approved, the medical center will serve as the “active parent and co-operator” of Saratoga Hospital, with full authority over the hospital’s strategic planning, budgets, physician contracts and potential leadership changes, according to the article.
The agreement also stipulates that both hospitals will place representatives on the other’s hospital board.
A New York department of health committee will assess the merger application on Sept. 22. The public health and health planning council will review the application on Oct. 6.
More articles on transactions and valuations:
Mountain States, Wellmont unveil new name for proposed merger
Brookhaven Memorial Hospital Medical Center to acquire local nursing home facility
Carolinas Hospital System joins Mayo Clinic Care Network
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.