After years of pondering a merger, two upstate New York hospitals have edged closer to a deal.
Having completed a portion of their due diligence, 224-bed Lake Shore Healthcare Center in Irving and 60-bed Tri-County Memorial Hospital in Gowanda now are preparing to enter a letter of intent to merge operations. That could happen by October. Officials expect final merger approvals by next spring.
A consolidated Lake Shore and Tri-County would generate roughly $37 million in revenues, said James Foster, Lake Shore's chief executive officer.
Foster said a single board and an administrator would govern and manage the merged organization. Those details, as well as a new name, have yet to be worked out.