Northwell Health this week announced the completion of its acquisition of Nuvance Health, resulting in the establishment of an integrated regional health system serving the greater New York and Connecticut areas. This new nonprofit entity will serve a combined population of about 13 million consumers with an annual budget of $22.6 billion and a workforce of more than 104,000 employees, including 22,000 nurses and 13,500 providers. The deal brings the network up to 28 hospitals, 1,050 ambulatory care facilities, and 73 urgent care centers.
Combined advantage: Under the terms of the agreement, which was finalized on May 1, Northwell Health will invest a minimum of $1 billion in Nuvance Health’s hospital network. Additionally, Nuvance Health will benefit from enhanced access to Northwell’s clinical, operational, and financial resources, according to the press release.