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

Mount Sinai Health System to affiliate with South Nassau Communities Hospital: 4 things to know

The boards of trustees of New York City-based Mount Sinai Health System and Oceanside, N.Y.-based South Nassau Communities Hospital announced their intent to affiliate Jan. 24.

Here are four things to know about the affiliation agreement.

1. If approved, South Nassau Communities Hospital will become Mount Sinai's flagship hospital in Long Island, N.Y.

2. South Nassau Communities Hospital's current board of directors will maintain governance over daily operations at the 455-bed hospital. Two representatives from Mount Sinai's and South Nassau's boards will also join the other institution's board.

3. As part of the deal, Mount Sinai will infuse $120 million in capital contributions to South Nassau Communities Hospital to expand its surgical facilities, intensive care units and emergency department as part of the hospital's five-year expansion plan.

4. The transaction is pending regulatory approval, which officials expect to obtain within the coming months. The organizations signed a nonbinding letter of intent to partner last May.

More articles on transactions and valuations:
Sanford Health to expand into New Zealand, Vietnam, Costa Rica, 2 other countries
Rite Aid divests 625 stores to Walgreens
Cabell Huntington agrees to compromise on proposed St. Mary's merger, end legal fight

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months