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.
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