In this regard, LCMC Health announced a partnership with Tulane University.
Under the proposed deal, the hospital system will acquire Tulane Medical Center, Lakeview Regional Medical Center and Tulane Lakeside Hospital.
According to LCMC Health, the staff at the three hospitals will be retained post acquisition.
The collaboration is also expected to provide the employees with “more opportunities for growth”.
The proposed agreement seeks to promote medical innovation and training across Louisiana, and also provide other benefits to the local community.
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As part of the proposed agreement, majority of services offered at Tulane Medical Center will move to East Jefferson General Hospital and University Medical Center New Orleans over the next 24 months.
Additionally, LCMC Health has pledged an initial capital investment of $220m to manage operations of East Jefferson General Hospital, Lakeview Regional Medical Center and Tulane Lakeside Hospital.
The transaction awaits a review by Louisiana Department of Justice and a public comment.
The agreement is expected to be finalised by this year-end or early next year.
LCMC Health CEO Greg Feirn said: “LCMC Health and Tulane University have shared values and a vision to partner to bring the best of community healthcare and academic medicine to all those we serve.
“With this transformational partnership, we can build on our strong history of collaboration with our academic partners, Tulane University and Louisiana State University, to do more for our patients, communities, and region together than would be possible as separate organisations.
“By joining forces, we will increase access to comprehensive and specialty care across our region, ensuring all our patients and communities receive extraordinary care, right here at home.”