SUNY Upstate University Hospital won’t pay a dime up front to acquire Crouse Hospital, The Post-Standard Syracuse reports.
But the state hospital will assume the smaller nonprofit hospital’s liabilities, including about $80 million in debt.
State taxpayer dollars would not be used to cover the acquisition and there would be no job cuts, according to the article.
The merger would leave only two hospitals in Syracuse and Central New York, the other being St. Joseph’s Health.
Central New York’s two state senators have been calling on SUNY Upstate University Hospital and Crouse Hospital to lift the veil of secrecy surrounding their proposed merger.
If the deal is approved, Upstate would amass a 71% share of the Syracuse hospital market, bring in more than $2.3 billion in annual revenue and employ about 13,000 people. Upstate is already the largest employer in the Syracuse area. Read more.
