Financial terms of the transactions were not disclosed. Under the deal, both systems would partner to improve patient care, develop clinical programs and broaden health sciences research.
“Our affiliation will permit both organizations to collaborate and share best practices to better meet the healthcare needs of the populations we serve, including many patients who live in the New York area and spend their winters in Palm Beach and Broward counties,” Michael Dowling, president and CEO of North Shore-LIJ, said in a news release.
The affiliation agreement does not connote a merger or acquisition. North Shore-LIJ and Boca Raton Regional will still retain independence and local control.
Similar transactions with loose parameters have popped during the past year, such as the partnership Cleveland Clinic and Franklin, Tenn.-based Community Health Systems signed last March.
More Articles on Hospital Transactions:
FTC Revises Hart-Scott-Rodino Premerger Filing Requirements
Dartmouth-Hitchcock, Mt. Ascutney Hospital Agree to Affiliation Terms
Partners HealthCare Disputes State’s Negative Assessment of South Shore Acquisition
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