Maimonides Medical Center, an independent hospital known for their nationally recognized heart and vascular center based in Brooklyn, NY is eyeing a potential partnership with North Shore-LIJ Health Systems, Daily News reports.
The provider announced on Tuesday it has signed a memorandum of understanding to enter into exclusive partnership negotiations with North Shore-LIJ Health Systems, one of the nation’s largest healthcare networks with 19 hospitals in New York City, Long Island, Westchester and New Jersey. The board of the nonprofit Borough Park hospital has spent the past 12 months looking for a potential regional partner, according to Maimonides President Pamela Brier.
Maimonides is Brookyn’s only accredited children’s hospital with one of the state’s largest obstetrics program, which delivers more than 8,700 babies each year. Maimonides reportedly turned a $3.1 million loss in the first half of 2014 into a $1.1 million gain by the end of the third quarter. Year-end financials aren’t yet available.
“We look forward to our continuing discussions with North Shore-LIJ and both agree that benefit to the communities we serve will be our highest priority. Brier said in a statement.
Negotiations is expected to last several months and will require the state to sign off on the formal partnership if the deal goes through. If approved, Maimonides is expected to remain a full-service tertiary care center and expand services as North Shore’s hub in the borough.
“We believe Maimonides would be an ideal partner, considering the medical center is already the pre-eminent provider of health care in Brooklyn,” North Shore-LIJ Health System’s Michael Dowling, president and chief executive said in a statement.