The Journal News
November 14, 2014
Hudson Valley Hospital Gets OK to Join New York-Presbyterian
Wave of health care mergers in region continues as New York-Presbyterian gets state OK to take over.
With little discussion, a state panel Thursday approved a plan for Hudson Valley Hospital Center in Cortlandt to become part of New York-Presbyterian Healthcare System as a wave of health care mergers in the Lower Hudson Valley continues.
The Westchester hospital will be known as New York-Presbyterian/Hudson Valley Hospital.
The Establishment Review Committee of the state Public Health and Health Planning Council attached conditions to the plan, including a three-year time limit to complete the transition.
The full council generally acts on the committee's recommendation.
Hudson Valley Hospital CEO John Federspiel was in the audience at the New York state Department of Health meeting in Albany but did not speak. He declined to comment on the approval.
There were no comments from the public during the meeting.
The New York City hospital will be the "active parent and co-operator" of the 123-bed Cortlandt hospital.
The Westchester hospital will be governed by a 12-member board of trustees, with nine from New York-Presbyterian and three from Hudson Valley Hospital Center.
New York-Presbyterian will be able to hire and fire officers, management and medical staff as well as the board of trustees that governs the hospital. It will also approve budgets and set the facility's strategic plans.
Financial documents filed as part of the application show that Hudson Valley Hospital Center had a loss of $3.6 million in 2013. The hospital attributed the loss to Medicare reductions.
New York-Presbyterian hospital reported that its revenue exceeded expenses by $230 million through the first nine months of 2014. The hospital system also reported $172 million in operating income and another $58 million from investment income.
New York-Presbyterian recently took over Lawrence Hospital Center in Bronxville. North Shore-LIJ Health System, a large Long Island system, is negotiating with Phelps Memorial Hospital in Sleepy Hollow and Northern Westchester Hospital in Mount Kisco.
Montefiore Medical Center in the Bronx bought bankrupt hospitals in Mount Vernon and New Rochelle and formed an affiliation with White Plains Hospital. It is also negotiating with Nyack Hospital.