This year’s breakfast featured Kenny Burgos, former New York State Assembly Member and now CEO of the New York Apartment Association, as keynote speaker.
The region’s current month’s supply of inventory stands at 3.9 months—below the 4-to-6-month range typically associated with a balanced market.
The two organizations plan to conduct due diligence and finalize definitive agreements by the end of 2025, followed by the pursuit of required regulatory approvals.
The two organizations plan to conduct due diligence and finalize definitive agreements by the end of 2025, followed by the pursuit of required regulatory approvals.
MIDDLETOWN—Garnet Health and its three hospitals in Middletown, Harris and Callicoon will be part of the Montefiore Health System if negotiations currently underway are finalized and secure regulatory approvals in 2026.
On Wednesday Oct. 15, Garnet Health and Montefiore Health announced the signing of a Letter of Intent for Garnet Health to pursue an affiliation with Montefiore Health System, Inc.
When finalized, this new affiliation is anticipated to result in enhanced access to high-quality care, strengthened and expanded clinical services, and broaden access to specialty care for more than 500,000 residents served by Garnet Health throughout Orange and Sullivan counties and surrounding areas, Garnet and Montefiore stated in a joint announcement.
“Today’s announcement reflects our continued commitment to ensuring the long-term strength and sustainability of healthcare in our region,” said Jonathan Schiller, President and CEO, Garnet Health. “Joining Montefiore Health System will enable us to bring expanded resources and clinical capabilities to our patients while preserving the community-focused care that has defined Garnet Health for generations.”
“Garnet Health has always been deeply committed to meeting the healthcare needs of our community,” states Virginia Rizzo, Board Chair, Garnet Health. “Our affiliation with Montefiore Health System will only help to strengthen that commitment by expanding access to high-quality, exceptional care close to home. This offers us the opportunity to build upon our shared dedication to improving the health and well-being of the region we proudly serve.”
Garnet Health and Montefiore Health System intend to build on each other’s strengths by combining Garnet Health’s deep community connections and local expertise with Montefiore’s advanced specialty capabilities and resources. The result will be a stronger, more sustainable healthcare network delivering the highest standards of care to our community.
“Montefiore Health System knows what it takes to deliver excellent care at a community level while offering access to world-class, academic medical expertise,” said Dr. Phillip O. Ozuah, President and CEO, Montefiore Einstein. “We look forward to the opportunity to welcome Garnet Health into the Montefiore family. Together, we share a deep commitment to local healthcare access, clinical excellence, and community care.”
The two organizations plan to conduct due diligence and finalize definitive agreements by the end of 2025, followed by the pursuit of required regulatory approvals.
Garnet Health is the corporate parent of Garnet Health Medical Center in Middletown Garnet Health Medical Center – Catskills in Harris and Callicoon and the Garnet Health Foundation and Garnet Health Foundation – Catskills.
Garnet Health provides healthcare to more than 500,000 residents in Orange, Sullivan, and Ulster counties and surrounding areas and employs more than 4,000 professionals and has a network of more than 850 medical staff members. It is also an academic affiliate of the Touro College of Osteopathic Medicine.
Montefiore Health System provides care to approximately three million people in communities across the Bronx, Westchester and the Hudson Valley. It is comprised of 10 hospitals, including a number of facilities in the Hudson Valley in addition to its locations in New York City. Its Hudson Valley facilities include: Montefiore St. Luke’s Cornwall Hospital in Newburgh; Montefiore Nyack Hospital, Montefiore New Rochelle Hospital; Montefiore Einstein Mount Vernon Campus; White Plains Hospital and Burke Rehabilitation Hospital in White Plains. Montefiore also operates more than 200 outpatient ambulatory care sites.
The region’s current month’s supply of inventory stands at 3.9 months—below the 4-to-6-month range typically associated with a balanced market.
The competitive and economic assumptions underpinning our application have shifted, altering our return expectations on the proposed $2.3-billion investment.
The latest drop, the second month-over-month decline since March, reflects the market's normal cooling heading into fall.
The work of transformation is ongoing—and it belongs to all of us.
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