The agreement will allow both health systems to begin a period of due diligence with the intent of forming an official affiliation. Officials said the agreement would aim to align the institutions’ medical services, management and governance.
Under the proposed agreement, SNCH would remain under local control. Mount Sinai would also contribute a “significant investment” in the hospital’s physical facilities, as well as in several of the SNCH’s clinical programs, according to a news release.
If a final agreement is reached, it will be subject to regulatory approval by the appropriate state and federal regulatory agencies, as well as the board of directors of each institution.
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