Yeshiva University will cede almost half of its $1 billion endowment to the Albert Einstein School of Medicine, as the medical college — which was formerly under its wing — becomes part of a separate, newly formed joint venture with Montefiore Health System. The scope of Y.U.’s transfer of funds to the new venture—a total of $465…
A worker at Montefiore Medical Center in the Bronx was found dead in a hospital bathroom after being missing for five days. Anthony Iuso, 44, a cleaner at the historically Jewish hospital that recently took over Yeshiva University’s medical school didn’t return home from work on October 1. Family members told the New York Post…
The news came like a one-two punch. In an email to staff, students and alumni, Yeshiva University President Richard Joel said on September 10 that Y.U. had finally sealed a deal relinquishing ownership of the Albert Einstein College of Medicine, into the hands of the not-for-profit that owns Einstein’s teaching hospital, Montefiore Medical Center, in…
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…
The planned takeover of Yeshiva University’s Albert Einstein College of Medicine by a Bronx hospital chain has been delayed, the Forward has learned. Montefiore Health Systems was supposed to take over financial and operational control of Einstein on July 1. But a spokeswoman for Montefiore said July 31 that an agreement between Y.U. and Montefiore…
More than 2,500 employees at Yeshiva University’s Albert Einstein College of Medicine will soon get notices from the school warning that they could be laid off this summer. The notices are being prepared as YU gets set to transfer much of its control over the medical school to Montefiore Health System. It is unclear how…
Yeshiva University has shed the burden of its prestigious but money-losing medical school, the Albert Einstein College of Medicine, amid a financial crisis that has drained $90 million — or 8% — of its endowment in the past year, The university still faces grim financial challenges, as well as the task of reassuring a faculty…
Yeshiva University has revived a deal to offload its costly medical school. Students learned today that Montefiore Health System is close to finalizing the on-again off-gain agreement take over the operations and financial responsibility for the Albert Einstein College of Medicine. Einstein’s dean, Allen Spiegel, told 200 students a rally on Tuesday morning that the…
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