Both Organizations Approve Definitive Agreement for Glens Falls Hospital to Become Albany Med Affiliate
Glens Falls Hospital and Albany Med announced today that they have taken the next step toward a strategic affiliation, approving the Definitive Agreement for Glens Falls Hospital to become an affiliate of Albany Med.
The agreement was approved by both Boards following a nearly year-long due diligence process undertaken by both organizations. Both organizations will now begin working through the necessary regulatory approvals needed to finalize the affiliation, which is expected to be complete in 2020.
“Glens Falls Hospital is evolving to ensure we are strong not just today, but for generations to come, and we are excited to have reached another significant milestone toward becoming an affiliate of Albany Med,” said Dianne Shugrue, Glens Falls Hospital President and CEO. “Albany Med has long been recognized as a premier healthcare provider, and we look forward to joining their organization once the affiliation is finalized.”
“Over many years, Albany Med has been working to build a health care system that provides our region access to the highest quality of care possible, and to ensure that residents throughout Northeastern New York can receive the type of care typically available only in major metropolitan centers,” said Steven Frisch, MD, Albany Medical Center Senior Executive Vice President.
“Glens Falls Hospital has long been a partner in care with us. We look forward to working closely with them to help provide our communities with the best care options possible, just as we have in our affiliations with Saratoga Hospital and Columbia Memorial Health,” he said.
Through a strategic affiliation with Albany Med, Glens Falls Hospital will:
• Continue to strengthen and advance the quality of care available in the Glens Falls region;
• Maintain and enhance the long-term financial viability of Glens Falls Hospital;
• Recruit and retain highly-skilled physicians; and
• Ensure our friends and neighbors have access to compassionate, high-quality healthcare for years to come.
Glens Falls Hospital leaders emphasized that nothing changes today for employees, patients or the community. Next steps will be to obtain approval from the state and federal governments.
Shugrue noted that Glens Falls Hospital is committed to providing employees, patients and the community with updates as the organizations move closer to finalizing the affiliation.