The long-planned merger dates back to 2012 when the two organizations signed a letter of intent to affiliate.
Under the deal, Southampton would lease its facilities to Stony Brook, according to the report. The agreement also includes a provision for a new $225 million hospital to be built. Southampton CEO Robert Chaloner told Newsday the project is something the organizations would be “working, planning and fundraising for.”
The transaction still requires regulatory approval.
More articles on healthcare industry transactions:
341 healthcare deals announced in Q4
Hospital Sisters Health System, Prevea Health join Integrated Health Network of Wisconsin
White Plains Hospital now part of Montefiore Health System
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