NEW ORLEANS – LCMC Health and Tulane University announced that they have finalized their partnership following approval from the Louisiana Department of Justice. As a result, Tulane Medical Center, Lakeview Regional Medical Center and Tulane Lakeside Hospital will join the LCMC Health system.
In October, LCMC announced plans to buy the three Tulane-affiliated hospitals from HCA Healthcare, a national operator, in a $150 million deal.
An LCMC spokesperson said the partnership will” expand access to care, advance academic medicine and boost innovation” as it reduces the number of major healthcare systems in the market to two: LCMC and rival Ochsner. There was some opposition to the deal, including from the National Nurses United union, but experts expected it to succeed as mergers become increasingly commonplace in the industry.
“The shared vision between LCMC Health and Tulane University to provide unparalleled patient care and medical research advancements in southeast Louisiana made this partnership a natural fit,” said LCMC Health CEO Greg Feirn in a press release. “As we integrate our operations, we are able to make locally based decisions that best serve the comprehensive and specialty care needs of patients in our region.”
LCMC said that all employees at Tulane Medical Center, Tulane Lakeside Hospital and Lakeview Regional Medical Center will keep their jobs and gain new opportunities.
“I can’t overstate how important this partnership will be to improving healthcare and boosting medical research in our community,” Tulane University President Michael A. Fitts said. “Combining the best community healthcare with the latest advances in academic medicine will provide the best care for our families, friends and neighbors while helping to drive our region’s economy.”
The integration of the Tulane facilities with LCMC Health will take place over the next two years. Over time, Tulane Medical Center will shift the majority of its services to East Jefferson General Hospital and University Medical Center New Orleans. Tulane has plans to redevelop the Medical Center building as part of its investment in downtown New Orleans.
“This partnership is part of Tulane University’s transformative commitment of $1 billion to Louisiana’s economy,” said a spokesperson. “This commitment will emphasize commercialization of research and entrepreneurship and include reimaging of the Charity Hospital and Tulane Medical Center buildings. Together these facilities will house a new nursing program, clinical research programs, educational space for students, an exponential increase in space dedicated to research, as well as graduate programs in public health, social work, and medicine. All told, these efforts will create an estimated 2,300 jobs in New Orleans and across Louisiana.”
