Yeshiva U. Finalizes Deal to Offload Einstein Medical School
Model Hospital: Albert Einstein checks out scale model of Yeshiva University’s medical school in the Bronx. Image by ap image
Yeshiva University has finalized an agreement to transfer the operations and finances of its medical school to the Montefiore Health System.
Under the agreement, Montefiore will assume operational authority and responsibilty for Y.U.’s Albert Einstein College of Medicine, while Y.U. remains responsible for academic oversight, including the granting of degrees, the two institutions said in a statement released Thursday.
Einstein and Montefiore have had an affiliation for the last 50 years, according to the statement.
“Further integrating the institutions’ faculty, students, and staff, will align operations to best advance science and medicine and build on traditions of service and success,” the statement said.
In March, over 2,500 Einstein employees received notice letters of possible layoffs as a result of the proposed agreement.
The Albert Einstein College of Medicine has accounted for an estimated two-thirds of Y.U.’s large deficits, which have reached $100 million in recent years.
In February, Y.U. indicated that a deal to hand over the operations of its medical school to cut costs was finally imminent after eight months of failed negotiations with Montefiore. In May, Y.U. and Montefiore announced the initial agreement, which would allow Y.U. to shed the medical school’s financial burden.
“Albert Einstein lent his name to this fledgling institution at a time when Jewish students were turned away from other schools. The new imperative in today’s complex health care environment is to formally link this now world-class medical school and research institution to a world-class health system,” said Richard Joel, Y.U. president. “Yeshiva University continues its historic commitment to medical education while we further our unique mission to prepare students through a contemporary academic education enlightened by Jewish values.”
A message from our CEO & publisher Rachel Fishman Feddersen
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse..
Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.
— Rachel Fishman Feddersen, Publisher and CEO
