The Mount Sinai Medical Center and Continuum Health Partners plan to merge to form Mount Sinai Health System.
New York-based Mount Sinai includes both the Mount Sinai Hospital and Icahn School of Medicine at Mount Sinai, a medical school. The Mount Sinai hospital was founded in 1852, and also offering clinicial education and training.
Continuum Health Partners, also headquartered in New York, is the parent company of a hospital partnership that includes Beth Israel Medical Center, Beth Israel Brooklyn, St. Luke’s Hospital and Roosevelt Hospital.
The deal will increase efficiency and expand access to care in New York, says Kenneth David, CEO of the Mount Sinai Medical Center, who will also serve as CEO of the newly formed company.
"There is no question that the future holds many challenges for health care providers here in New York and across the country," says Steven Hochberg, Continuum’s chairman. "The new entity created by bringing together the clinical and administrative excellence of Mount Sinai and Continuum will help provide us a position of significant strength and resourcefulness to meet these challenges.”
Terms of the transaction were not disclosed.
Skadden Arps Slate Meagher & Flom LLP advised Mount Sinai on the deal.