North Shore-LIJ, Hackensack UMC announce strategic alliance
Hackensack University Health Network and the North Shore-LIJ Health System announced Monday an agreement to establish a strategic alliance. The agreement enables North Shore-LIJ to establish its first formal relationship in New Jersey, while providing Hackensack University Health Network its first formal entre into New York City and Long Island.
"Both parties have recognized the potential benefits of establishing this strategic alliance because our separate networks principally serve different geographic communities within the greater New York City metropolitan area," said Robert C. Garrett, Hackensack University Health Network's president and CEO, in a press release.
The partnership opens a new chapter in Hackensack University Health Network's 124-year history, further elevating its national reputation for clinical quality and innovative research. Through its growing regional network of affiliated and owned hospitals and aligned physicians, anchored by nationally-recognized 775-bed Hackensack University Medical Center and its approximately 8,000 employees and over 1,600 physicians, Hackensack University Health Network is the most prominent healthcare network in the northern New Jersey region.
North Shore-LIJ is already the largest integrated healthcare provider in New York State with more than $6 billion in annual revenue, the ninth-largest employer in the city of New York and the largest on Long Island with a workforce of more than 43,000 employees and over 9,000 physicians. The new alliance will serve more than eight million residents, representing over 310,000 annual hospital admissions.
“It’s important that hospitals have an open dialogue with other leading institutions to identify best practices that will help hospitals transition in the new era of healthcare,” said Terry Lynam, vice president of public relations for North Shore-LIJ. “While North Shore serves a diverse population, we have no facilities in New Jersey. Hackensack is a healthcare leader in the northern New Jersey area, so it made sense to form this alliance and learn from each other.”
Michael J. Dowling, North Shore-LIJ's president and CEO, said in a press release North Shore-LIJ and Hackensack University Health Network will work together to identify ways of enhancing their respective clinical services, which have well-deserved national and regional reputations for excellence. Both organizations also have nationally prominent pediatric services offered through Hackensack's Joseph M. Sanzari Children's Hospital and North Shore-LIJ's Cohen Children's Medical Center of New York.
"The decision was based on North Shore-LIJ's reputation as a highly respected organization that has formed successful partnerships with independent hospitals in the greater New York City and Long Island region," said Garrett in a written statement.
According to the terms of the new alliance, each entity will remain independent and continue to be responsible for its own assets, operations and liabilities, and neither party nor its Board of Trustees will have any legal responsibility over the other. Each will continue to be operated under the direction and control of their respective governing boards. Their respective endowments and all other funds will remain separate and be managed separately. Funding and operational management for new programs and services will be developed by and jointly agreed upon by a newly formed joint operating committee for the alliance.
