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Faxton St. Luke's, St. Elizabeth Inch Closer to Finishing Merger

Faxton St. Luke's Healthcare and St. Elizabeth Medical Center, both based in Utica, N.Y., are one step away from finalizing their merger, as both organizations are filing paperwork with federal regulatory agencies, according to an Evening Telegram report.

The Federal Trade Commission and the Department of Justice will review the transaction for antitrust concerns. Scott Perra, president and CEO of Faxton St. Luke's, said this past Sunday that if the FTC and DOJ have no objections under the Hart-Scott-Rodino Act, then both organizations will be able to complete the affiliation by the spring of 2014.

Last week, Faxton St. Luke's and St. Elizabeth settled antitrust concerns with the state of New York.

Under the proposed affiliation, a parent organization named Mohawk Valley Health System will govern the two hospitals. The parent organization's 18-member board of directors will be composed of nine members each from the Faxton St. Luke's board and the St. Elizabeth board. Each hospital will maintain a separate board, but Mr. Perra will oversee the management team for both.

More Articles on Hospital Transactions:
Nash Health Care Systems, UNC Health Care to Affiliate
Illinois Approves OSF HealthCare, Kewanee Hospital Deal
5 Key Ways to Minimize Hospital Transaction Antitrust Risks

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