A merger of Danbury, Conn.-based Nuvance Health with New Hyde Park, N.Y.-based Northwell has been approved by the Connecticut Office of Health Strategy through a certificate-of-need application.
Northwell and Nuvance shared plans to integrate into a nonprofit, regional system in late February 2024, bringing together 28 hospitals, more than 1,000 sites of care and 14,500 providers across two states.
Nuvance Health saw a $98.1 million operating loss (-3.4% margin) in fiscal 2024, an improvement from a $164.2 million loss (-6.2% margin) the previous year.
“Northwell is committed to ensuring that Nuvance Health continues to deliver high-quality care in local communities for the long-term,” Michael Downling, president and CEO of Northwell Health, said in an April 8 news release shared with Becker’s. “We’re excited to move forward, united in our vision to transform healthcare and build a healthier future for the residents of Connecticut and New York.”
The partnership aims to provide enhanced services, staff education, expanded employment and research opportunities. It will also ensure a financially sustainable health system, the release said.
“By joining forces with Northwell Health, we can strengthen and enhance our ability to meet the needs of patients across Connecticut and the Hudson Valley for generations to come,” John Murphy, MD, president and CEO of Nuvance Health, said in the release. “This is a transformative moment for our patients, our employees and the communities we proudly serve.”
