Brooklyn, N.Y.-based Maimonides Health has moved to join New York City’s public health system, NYC Health + Hospitals, seeking to finalize the deal in the next few months.
“This presents a historic opportunity for Maimonides to expand our capacity to deliver high-quality care, meet the growing needs of our communities and strengthen our financial position at a time when federal cuts threaten to reduce support for safety-net hospitals,” a Maimonides Health spokesperson said in a Dec. 23 statement shared with Becker’s.
Under the proposed agreement, Maimonides would receive up to $2.2 billion over five years through a state grant announced in October. Maimonides would also secure access to higher Medicaid reimbursement rates available to public hospitals, generating millions of dollars in additional annual revenue.
Maimonides and NYC Health + Hospitals are continuing to work with stakeholders toward a final deal.
Maimonides Health is one of the country’s largest independent teaching hospitals and trains more than 500 residents and fellows annually, according to its website.
Becker’s has also reached out to NYC Health + Hospitals for comment and will update this story should more information become available.
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