Nyack Hospital, Montefiore hold merger talks
- Montefiore%2C Nyack Hospital sign letter of intent to pursue partnership deal
- Montefiore bought 2 Westchester hospitals and partnered with one more in the past year
- If deal is approved it will mark the Bronx hospital's first move on the west side of Hudson River.
Montefiore Medical Center is in talks to partner with Nyack Hospital, the Bronx health care system's fourth potential acquisition in the Lower Hudson Valley in less than a year.
Both Montefiore and Nyack Hospital have signed letters of intent agreeing to explore the deal, sources told The Journal News. It was not immediately clear if the two institutions would merge or form a partnership.
A Montefiore spokeswoman declined comment and a Nyack spokeswoman declined to comment.
If the two institutions come to an agreement, it will be Montefiore's first move to the west side of the Hudson River. The Bronx health system bought two Westchester hospitals,Sound Shore in New Rochelle and Mount Vernon Hospital, in bankruptcy court in the fall. It is working out a partnership agreement with White Plains Hospital.
In the past six months, New York-Presbyterian Hospital assumed control of Lawrence Hospital in Bronxville. North Shore-LIJ Healthsystem is forming partnerships with both Phelps Memorial Hospital in Sleepy Hollow and Northern Westchester Hospital in Mount Kisco.
Nyack Hospital formed an affiliation with New York-Presbyterian Health System in 2004. Nyack had hoped at the time that the relationship would lead to a cardiac care and angioplasty program at the hospital. Nyack submitted plans for a cardiac lab to the state Department of Health, but eventually withdrew them without going forward.
Nyack Hospital is still listed as an affiliate of New York-Presbyterian. A spokeswoman would not characterize the relationship between the two institutions.
Any agreement between Montefiore and Nyack would have to be approved by the state Department of Health.
Montefiore Medical Center had a profit of nearly $111 million with revenues of $2.3 billion in 2012, according to its most recent tax filings. Nyack Hospital had a profit of nearly $4.5 million with revenues of $208 million during the same period.
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