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“This is a discussion between two highly respected medical centers looking for additional ways to benefit patients in the communities we serve,” said Montefiore President Spencer Foreman, M.D. “As the parent of both Montefiore and Our Lady of Mercy, the new entity would extend Montefiore’s highly successful business model to expand the new system’s operations in a manner consistent with Montefiore’s reputation as a financially sound, not-for-profit hospital.”
“Our Lady of Mercy has faced some financially challenging times in recent years as the cost of providing medical care continues to rise,” said Richard Celiberti, who became Chief Executive Officer of Our Lady of Mercy Medical Center in January 2004. “We have been actively seeking a partner to enable us to continue to provide acute care services and expand our existing services.”
“We have decided to negotiate exclusively with Montefiore, and plan to actively involve representatives of the Department of Health, other New York State and Federal Agencies and District 1199 labor union whose input, cooperation and support are essential for any partnership to come to fruition,” said Celiberti.
Montefiore’s and Our Lady of Mercy’s principal facilities are all within a five-mile radius in the North Bronx. The medical centers hope to execute a definitive agreement within the next 120 days. Pending a final agreement and regulatory approvals, it is estimated that the proposed “Montefiore Health System” could be formed and operational in the first quarter of 2005.
About Our Lady of Mercy
Founded in 1887 by the Misericorde Sisters of Montreal, Our Lady of Mercy Medical Center is a non-profit teaching community hospital comprised of an acute care medical campus, medical villages, ambulatory centers and Rosalie Hall, a home for unwed mothers. OLM serves the Bronx and Westchester counties of New York, caring for more than 120,000 patients per year. The medical center is renowned for its excellence in the areas of geriatrics (with the largest number of teaching fellows in the Bronx), cardiology, oncology, maternal and child health (including a level three neo-natal intensive care unit), gastroenterology, clinical nutrition and psychiatry, among other services.
Montefiore Medical Center, The University Hospital and Academic Medical Center for the Albert Einstein College of Medicine, ranks among the top one percent of all US hospitals based on its investments in medical innovation and cutting-edge technology.
Montefiore invests more in order to enable compassionate, personalized care and the most positive outcomes for patients and their families in New York, the tri-state area and beyond.
Montefiore’s unique combination of ‘state-of-the-art’ technology with ‘state-of-the-heart’ medical and nursing care in a teaching and research environment provides patients with access to world-class medical experts, the newest and most innovative treatments and the best medical center experience anywhere.
This 1,062 bed medical center includes the Henry and Lucy Moses Division, the Jack D. Weiler Hospital and The Children’s Hospital at Montefiore, a large home healthcare agency and a 21-site medical group practice located throughout the Bronx and nearby Westchester.
Montefiore treats all major illnesses and has distinguished centers of excellence in cardiology and cardiac surgery, cancer care, tissue and organ transplantation, children's health, women's health, surgery and the surgical subspecialties. Montefiore Medical Center focuses on providing family-centered healthcare in a nurturing environment that extends well beyond hospital and clinic walls.
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