Cedars-Sinai teams to operate Providence St. Joseph Health hospital in joint venture

Cedars-Sinai Medical Center
Providence Tarzana Medical Center will be renamed the Providence Cedars-Sinai Tarzana Medical Center as the Catholic health system creates a joint venture with Cedars-Sinai to operate the hospital. (Courtesy of Cedars-Sinai)

Providence St. Joseph Health and Cedars-Sinai have agreed to create a joint venture to own and operate Providence Tarzana Medical Center.

The hospital will be renamed the Providence Cedars-Sinai Tarzana Medical Center.

Providence will retain controlling interest and the hospital will retain its Catholic identity, officials said. Providence and Cedars-Sinai will continue to operate as separate, individual healthcare organizations.

Conference

2019 Drug Pricing and Reimbursement Stakeholder Summit

Given federal and state pricing requirements arising, press releases from industry leading pharma companies, and the new Drug Transparency Act, it is important to stay ahead of news headlines and anticipated requirements in order to hit company profit targets, maintain value to patients and promote strong, multi-beneficial relationships with manufacturers, providers, payers, and all other stakeholders within the pricing landscape. This conference will provide a platform to encourage a dialogue among such stakeholders in the pricing and reimbursement space so that they can receive a current state of the union regarding regulatory changes while providing actionable insights in anticipation of the future.

Providence and Cedars-Sinai will jointly continue the redevelopment of the Tarzana campus, including a new patient tower with all patient rooms and an expanded emergency department. The build-out is expected to be complete in 2022. 

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"Rather than duplicating resources, we are working together to bring the latest, state-of-the-art advances to the community," said Mike Butler, president of operations for Providence St. Joseph Health. "It's an innovative way to invest in the healthcare needs of the future to ensure high-quality, affordable care for those in need."

Patients will begin to see impacts of the partnership later this year as the organizations begin to consult on offering a broader range of services, officials said. The joint venture will expand primary care and specialty care services on the Tarzana campus and improve programs such as heart, cancer and women's services, the said. 

Providence is a nonprofit Catholic health system with 51 hospitals, 829 physician clinics and 119,000 caregivers in seven states. It has 13 hospitals in southern California. Cedars-Sinai has a 958-bed hospital and multispecialty academic health science center located in Los Angeles with a staff of over 2,000 physicians and 10,000 employees.

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