Providence Tarzana to enter joint venture with Cedars-Sinai

June 15, 2019

Providence St. Joseph Health of Renton, Wash., and Cedars-Sinai of Los Angeles plan to enter into a joint venture this summer with the goal of improving access to medical care and specialized services in the Tarzana, Calif., area. Tarzana is about 20 miles northwest of downtown Los Angeles.

The deal has the 51-hospital, nonprofit Catholic system and the 40-plus-hospital, nonprofit Jewish academic health organization partnering to bolster Providence's Tarzana hospital. That hospital, Providence Tarzana Medical Center, will be renamed Providence Cedars-Sinai Tarzana Medical Center. Providence will maintain the controlling interest in the medical center. Specifics on its financial stake are confidential, according to Providence.

Providence and Cedars-Sinai will operate as independent organizations. The Tarzana medical center will retain its Catholic identity, according to a press release.

Under the agreement, Cedars-Sinai will help Providence to complete a $550 million renovation of the Tarzana campus begun in 2016 and slated for 2022 completion. The project is adding an inpatient wing with all private rooms to the Providence Tarzana campus, expanding the facility's emergency department and diagnostic treatment areas, and renovating its neonatal and women's care areas.

The partners also will expand primary and specialty care services on the campus and add to heart, cancer and women's services.

Providence said the partnership will enable Cedars-Sinai to expand its network of care in California's San Fernando Valley and help to ensure there is a full continuum of health care in the region.

 

 

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