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NewYork-Presbyterian Completes Downtown Hospital Merger

NewYork-Presbyterian Hospital in New York City has officially added New York Downtown Hospital, located in Lower Manhattan, as its sixth hospital campus.

The New York State Department of Health approved the merger. The 180-bed New York Downtown is now NewYork-Presbyterian/Lower Manhattan Hospital.

"As the only acute-care hospital serving lower Manhattan, this campus is vital to meeting the healthcare needs of many populations," Steven Corwin, MD, CEO of NewYork-Presbyterian, said in a news release. "We are working closely with the community, as well as with Weill Cornell Medical College and Weill Cornell physicians, to create a first-class campus that provides the highest quality, most compassionate care and service for patients and their families."

NewYork-Presbyterian now has roughly 2,600 beds across its six campuses, cementing its position as the largest hospital in the United States.

NewYork-Presbyterian originally filed a certificate of need with the state to take over New York Downtown in January. New York Downtown, a safety-net hospital roughly a mile away from the World Trade Center and Wall Street, had suffered large operational losses from 2009 to 2012 due to large reductions to Medicare and Medicaid reimbursement and a poor commercial payer mix.

More Articles on Hospital Transactions:
Merger Planned Between Covenant Health, Cumberland Medical Center
UPMC Officially Takes Over Altoona Regional Health System
Winchester Hospital Chooses Lahey Health for Affiliation

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