SUNY Board of Trustees Supports Downstate Medical Center During Financial Transformation

Albany – The State University of New York Board of Trustees today passed a resolution expressing its continued support for Downstate Medical Center’s academic mission and the critical role it plays in delivering quality health care to communities in Brooklyn and across the state.

Today’s resolution authorizes SUNY System Administration to establish a line of credit of up to $75 million to the hospital as it moves forward with its financial transformation plan. The resolution also urges a partnership with the State to provide future financial assistance to SUNY hospitals and medical centers, including HEAL funding and Medicaid rate adjustments.

“We are committed to ensuring that the residents of Brooklyn and its surrounding communities have access to high quality health care services, and that the hospital can continue to provide clinical medical training that benefits all New Yorkers,” said Board Chairman H. Carl McCall. “We are confident that the transformation will enable Downstate to achieve these goals while freeing up the funds necessary to gain financial stability. The board has voted to continue to support Downstate and believes it is critical that New York State does the same.”

“We have engaged in productive and ongoing conversations with the Executive Chamber, Department of Health, and Division of the Budget about the role that Downstate Medical Center can and should play in creating a financially secure and sustainable health care system in Brooklyn,” said Chancellor Zimpher. “As a major supplier of the state’s health care professionals, Downstate fulfills academic and medical needs within SUNY and the State of New York, making our continued support of the hospital a logical and critical next step.”

As announced in early May, the leadership of Downstate Medical Center, in partnership with SUNY Administration, began planning for a financial transformation of the organization in order to stabilize its finances and ensure continued high quality medical care and education for its patients and students. The line of credit agreed upon today will help Downstate cover its currently anticipated cash shortfall.

About the State University of New York

The State University of New York is the largest comprehensive university system in the United States, educating nearly 468,000 students in more than 7,500 degree and certificate programs on 64 campuses with nearly 3 million alumni around the globe. To learn more about how SUNY creates opportunity, visit www.suny.edu.