Faxton St. Luke's Healthcare and St. Elizabeth Medical Center are exploring merger opportunities.
The Board of Directors from both facilities has recently passed a resolution to begin discussions on merging or look into other options that would closely link the two hospitals.
"The economic and regulatory environments continue to make it difficult for hospitals to survive. During the past several years, hospitals, particularly in New York State, have been struggling with the changes in reimbursement, unfunded mandates and an increasingly challenging regulatory environment," says Gregory McLean, Chairman of the Board of Directors for Faxton St. Luke's Healthcare.
If the two facilities decide to merge, the process will take 18 to 24 months. The two organizations employ nearly 4,900 employees and have combined operating budgets of more than $535 million.