June 21, 2024 – Amid continued headwinds going through the healthcare trade, Lifespan Well being System and Brown College have finalized phrases for a sequence of expanded collaborative agreements to strengthen top-quality affected person care, medical schooling and biomedical analysis in Rhode Island. As a part of the agreements, Lifespan will change its title to Brown College Well being later this 12 months by a rebrand that shall be developed over the approaching months, increasing Lifespan's capacity to recruit and retain world-class physicians and creating deeper alignment between Lifespan's medical actions is mirrored. care and Brown's tutorial and analysis focus.
The agreements additionally embody mutual monetary investments between Lifespan and Brown, which can live on as separate, impartial organizations following the implementation of Lifespan's rebrand to Brown College Well being. An annual funding of $15 million to $25 million from Brown to Lifespan, totaling $150 million over seven years, shall be devoted to strengthening Lifespan's monetary capability to assist and advance the 2 organizations' shared tutorial mission. After that interval, Lifespan will make investments $15 million yearly to assist the schooling and analysis efforts of Warren Alpert Medical Faculty.
Lifespan President and Chief Government Officer John Fernandez and Brown President Christina H. Paxson shared particulars concerning the new agreements throughout an occasion on Thursday, June 20, at Hasbro Youngsters's Hospital. Fernandez mentioned these are nonetheless troublesome instances in healthcare, and it’s extra vital than ever that Lifespan strengthens and strengthens the ties between affected person care and Brown as a tutorial accomplice.
The agreements observe votes by the Lifespan Board of Administrators and the Company of Brown College, every of which accepted a non-binding time period sheet directing their management groups to barter a renewal and enlargement of the affiliation agreements between the organizations. Lifespan and Brown have longstanding ties, making Rhode Island Hospital the first instructing hospital for Brown's Warren Alpert Medical Faculty, the one medical college within the state. The affiliation dates again to 1969, earlier than a four-year medical program was established on the college.
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