Montefiore Medical Center and Our Lady of Mercy Medical Center, located within five miles of each other in the Bronx, N.Y., have signed a letter of intent to merge under one parent. Officials at Our Lady of Mercy said the 489-bed Catholic-sponsored hospital has been struggling financially and actively seeking a partner. The hospital will negotiate exclusively with 1,119-bed Jewish-founded Montefiore, and the negotiations will involve New York health officials and the healthcare workers union, officials said. A definitive agreement is expected within 120 days. Pending regulatory approvals, the new system could be operational in the first quarter of 2005, officials said. Our Lady of Mercy is projecting a $10 million loss on projected revenue of $210 million this year, a hospital spokesman said. -- by Cinda Becker
Bronx, N.Y., hospitals agree to merge
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