Press Release - April 1, 2004

Contact:
Pamela McDonnell
Office of Public Affairs
NYU School of Medicine
Tel: 212-404-3555
E-mail: Pamela.McDonnell@med.nyu.edu

NYU HOSPITALS CENTER AND
HOSPITAL FOR JOINT DISEASES VOTE TO MERGE

(March 31, 2004) The Boards of Trustees of NYU Hospitals Center (NYUHC) and the Hospital for Joint Diseases/Orthopaedic Institute (HJD) have unanimously voted to proceed with a formal request to the State of New York for approval of a full asset merger between the two hospitals. The merger, which is the culmination of a long standing affiliation, will strengthen the combined institutions’ leadership in the key areas of medicine encompassing Musculoskeletal Care, particularly orthopedics, rheumatology, and rehabilitation medicine.

According to Robert M. Glickman, M.D., Chief Executive Officer of NYU Hospitals Center, “The merger will ensure that NYUHC and HJD will become one institution with a single standard of care at two locations, with each uniquely suited for serving patients with specific needs. The merger will be the foundation for greater and exciting opportunities for our faculty and staff in the area of Musculoskeletal Care, and it will allow us to focus on growing our clinical services and reputation together.”

According to HJD President and Chief Executive Officer John N. Kastanis, it is expected that the closer integration achieved by the merger will increase the number of patients particularly in the areas of orthopaedics, rheumatology, and rehabilitation medicine as well as increase the amount of external research funding for these specialties.

It is anticipated that the institutions’ current affiliation under a single corporate parent and integrated clinical leadership and ancillary and support functions will enable the process to proceed with minimal financial cost and disruption of business operations. The merger process is expected to be completed by the first quarter of 2006.

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