Montefiore Health System and Yeshiva University Come to Historic Agreement for Future of Albert Einstein College of Medicine

NEW YORK, May 27, 2014 /PRNewswire-USNewswire/ -- Montefiore Health System and Yeshiva University have come to an historic agreement to build upon a longstanding, 50-year relationship that has trained generations of physicians and medical researchers. A new entity will be jointly formed by Montefiore and Yeshiva, with Montefiore assuming greater responsibility for the day-to-day operations and financial management of Albert Einstein College of Medicine and with Yeshiva remaining the degree-granting institution with a key role in the educational aspects of the entity. Montefiore has agreed to assume significant governance and financial responsibility for the new Einstein entity. 

"This agreement marks an important milestone for the future of each of our institutions as well as for healthcare as a whole," said Steven M. Safyer, M.D., president and CEO, Montefiore. "We look forward to further strengthening Einstein as a major research institution that spans the scope from bench science to healthcare delivery transformation."

The agreement enhances and strengthens the organizations' shared missions of research, teaching, patient care and community service and will ensure Einstein remains a leading medical school.

"We are undertaking this historic process of transforming our relationship with Montefiore and Einstein to match the extraordinary opportunities and challenges in the healthcare environment of the 21^st century," said Richard M. Joel, president, Yeshiva University. "We are delighted to emphasize our shared commitment to assuring the continuity and growth of the educational and research functions of Einstein while remaining a leader in medical education. At the same time, we are taking a powerful and important step towards building a financially sustainable Yeshiva University."

Through the agreement, it is anticipated that there will be one unified faculty, retaining academic appointments from Yeshiva while being employed by Montefiore, as they continue to teach and mentor Einstein's students and Montefiore residents. Einstein faculty members will continue to collaborate with all areas of Montefiore and their faculty counterparts in Yeshiva's other schools. Einstein will continue to operate consistently with Yeshiva's historic mission.

The Yeshiva Board of Trustees and Montefiore's Board Leadership endorse the decision to move forward with developing a final agreement, which will be subject to regulatory approval.

About Montefiore Health System
Montefiore Health System is a premier academic health system and the University Hospital for Albert Einstein College of Medicine. Combining nationally-recognized clinical excellence with a population health perspective that focuses on the health needs of communities, Montefiore delivers coordinated, compassionate, science-driven care where, when and how patients need it most. Montefiore consists of six hospitals and an extended care facility with a total of 2,059 beds, a School of Nursing, and state-of-the-art primary and specialty care provided through a network of more than 160 locations across the region, including the largest school health program in the nation and a home health program. For more information please visit http://www.montefiorehealthsystem.org. Follow us on Twitter; like us on Facebook; view us on YouTube.

About Yeshiva University
Yeshiva University is the premiere educational institution under Jewish auspices in America, and provides the highest quality Jewish and secular education of any Jewish university in the world. It is an independent university that ranks among the nation's leading academic research institutions and, reflecting the time-honored tradition of Torah Umadda, has since its inception been dedicated to melding the ancient traditions of Jewish law and life with the heritage of Western civilization. More than 7,600 undergraduate and graduate students study at YU's four New York City campuses. Three undergraduate schools – Yeshiva College, Stern College for Women, and Sy Syms School of Business – offer a unique dual program comprised of Jewish studies and liberal arts courses. YU's graduate and affiliate schools include Albert Einstein College of Medicine, Benjamin N. Cardozo School of Law, Wurzweiler School of Social Work, Ferkauf Graduate School of Psychology, Azrieli Graduate School of Jewish Education and Administration, Bernard Revel Graduate School of Jewish Studies, and Rabbi Isaac Elchanan Theological Seminary. Yeshiva University is ranked among the nation's leading academic research institutions. For more information, please visit www.yu.edu, follow us on Twitter and like us on Facebook.

About Albert Einstein College of Medicine 
Albert Einstein College of Medicine of Yeshiva University is one of the nation's premier centers for research, medical education and clinical investigation. During the 2013-2014 academic year, Einstein is home to 734 M.D. students, 236 Ph.D. students, 106 students in the combined M.D./Ph.D. program, and 353 postdoctoral research fellows. The College of Medicine has more than 2,000 full-time faculty members located on the main campus and at its clinical affiliates. In 2013, Einstein received more than $155 million in awards from the NIH. This includes the funding of major research centers at Einstein in diabetes, cancer, liver disease, and AIDS. Other areas where the College of Medicine is concentrating its efforts include developmental brain research, neuroscience, cardiac disease, and initiatives to reduce and eliminate ethnic and racial health disparities. Its partnership with the Montefiore Health System, the University Hospital and academic medical center for Einstein, advances clinical and translational research to accelerate the pace at which new discoveries become the treatments and therapies that benefit patients. Through its extensive affiliation network involving Montefiore, Jacobi Medical Center –Einstein's founding hospital, and five other hospital systems in the Bronx, Manhattan, Long Island and Brooklyn, Einstein runs one of the largest residency and fellowship training programs in the medical and dental professions in the United States. For more information, please visit www.einstein.yu.edu, read our blog, follow us on Twitter, like us on Facebook, and view us on YouTube.

SOURCE Montefiore Health System