Cedars-Sinai and Torrance Memorial hospitals plan to team up to share resources, collaborate on patient care and provide wider access to clinical trials.
Under the proposed partnership, announced this week, the two Los Angeles-area healthcare institutions would keep their separate boards of directors and operate independently under their respective chief executives, each keeping their own employees and making their own staffing decisions. They would, however, affiliate under a new parent organization with a new board of directors.
Cedars-Sinai’s president and CEO, Thomas Priselac, would also serve as president and CEO of the parent entity, named Cedars-Sinai Health System.
Both institutions said the affiliation would increase resources and access to healthcare for the public. They also said that it would reduce costs, but that they don’t expect it to lead to any layoffs or job reductions.
Established in 1902, Cedars-Sinai is the largest private, nonprofit hospital in the western United States. It has several branches — including the 886-bed Cedars-Sinai Medical Center in Los Angeles’ Beverly Grove neighborhood and the 145-bed Marina del Rey Hospital — and vast research and teaching programs.
Torrance Memorial, founded in 1925, is also a nonprofit; it has a 470-bed medical center as well as several outpatient centers in the South Bay.
In recent years, they said, they have worked together on projects including a program to diagnose and treat stroke patients more quickly.
Although the partnership has been approved by the institutions’ boards of directors, it still needs regulatory approval — a process they expect to take six months.