Cayuga Health System and Arnot Health, Inc. unveiled plans on Monday, Oct. 9th, to form a joint parent company, building upon their April 14th, 2023 announcement that highlighted an exploration of a collaborative partnership.
“This partnership will ensure the essential, high-quality health care services that community members and businesses across our region rely upon will continue to be delivered locally,” expressed Jonathan Lawrence, the president and CEO of Arnot Health.
The affiliation awaits regulatory approval from New York State, emphasizing that it’s not a move towards a merger. Upon approval, Dr. Martin Stallone, the current President and CEO of CHS, will helm the new parent company as its CEO, while Lawrence will assume the role of executive vice president.
The collaborative approach aims to bolster access to medical services in the Southern Tier and Finger Lakes regions, spanning nine counties. Both entities anticipate that their joint structure will retain their individual systems while amplifying their ability to cater to the local community. The emergent parent company will manage an expansive $1 billion suite of medical services, including but not limited to emergency care, cancer care, outpatient physician care, and home nursing. A shared vision emphasizes facility upgrades and persistent workforce investments, particularly in the face of healthcare worker shortages.
The alliance will also emphasize education, with plans for initiatives in nursing, radiologic technology, and graduate medical education. The impending expansion of the Cayuga Health Professions Learning Center seeks to bridge training with job opportunities across the newly-formed conglomerate. Dr. Stallone conveyed his enthusiasm for the collaboration, stating, “We look forward to moving into the next phase of this process with New York State.”
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