The health system and the University finalized agreements to expand their longtime affiliation.
Amid ongoing headwinds facing the health care sector, Lifespan health system and Brown University have finalized terms on a set of expanded affiliation agreements to strengthen top-quality patient care, medical education and biomedical research in Rhode Island.
As part of the agreements, Lifespan will change its name to Brown University Health later this year through a rebranding effort to be developed over the next several months, enhancing its ability to recruit and retain world-class physicians and reflecting a deeper alignment between Lifespan’s clinical care and Brown’s academic and research focus.
The agreements also include reciprocal financial investments between Lifespan and Brown, which will continue as separate, independent organizations after the implementation of the Lifespan rebrand to Brown University Health. A $15 million to $25 million annual investment from Brown to Lifespan, totaling $150 million over seven years, will be devoted to strengthening Lifespan’s financial capacity to sustain and advance the shared academic mission of the two organizations. Following that period, Lifespan will invest $15 million annually to support the Warren Alpert Medical School’s education and research efforts.
Lifespan President and Chief Executive Officer John Fernandez and Brown President Christina H. Paxson shared details on the new agreements in a Thursday, June 20, event at Hasbro Children’s Hospital. Fernandez said these continue to be difficult times in health care, and it is more important than ever that Lifespan solidify and strengthen ties between patient care delivery and Brown as its academic partner.
“We are excited to move forward with robust plans to expand our facilities and improve our systems and technology to be able to compete with new entrants to the health delivery market, such as national chains,” Fernandez said. “This enhanced relationship with Brown is one part of the solution to ensure that our health system can continue to offer the people of Rhode Island the opportunity to access high-quality treatment close to home.”
