US-based non-profit health system Nuvance Health has agreed to combine its operations with Northwell Health, a healthcare network in New York.
If approved, the merger will create an integrated regional health network that comprises more than 1,000 care sites, including 28 hospitals, as well as 14,500 providers.
Go deeper with GlobalData
The merger aims to improve primary, speciality and hospital care accessibility across New York and Connecticut.
Northwell Board of Trustees chair Margaret Crotty said: “This agreement marks an important milestone for both Nuvance Health and Northwell, mission-driven organisations with similar values and an optimistic vision for the future of healthcare.
“Together, we can create something truly special – an integrated health system that is even better positioned to care for the communities we serve.”
See Also:
The integrated system will provide coordinated care across western Connecticut, the Hudson Valley, New York City and Long Island.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIts focus will cover a range of services, from ambulatory and hospital care to post-acute services.
The merger is also anticipated to expedite medical innovation by making use of both groups’ clinical and financial resources.
Nuvance Health board of directors chair Anne Roby said: “Our collaboration with Northwell Health builds upon the strong foundation of our ongoing relationship.
“Together, we will address the evolving needs of our communities more efficiently and effectively, ensuring the delivery of compassionate, high-quality care locally.”
Kaufman Hall was the exclusive financial adviser for Nuvance Health for the deal, while Epstein Becker & Green provided legal counsel.
Nuvance Health was formed through a merger of Western Connecticut Health Network and Health Quest in 2019.
The merger announcement comes after the company reported an operating loss of $50.9m and a $66.2m overall loss in Connecticut for the fiscal year 2022.
Last November, Northwell Health opened a $52m medical facility in Rego Park, New York.
