Montefiore Medical Center Adds North Division

Former Our Lady of Mercy Medical Center Assets Acquired

Move Enhances Delivery of High Quality, Compassionate Healthcare to Community
As Care and Services Continue

NEW YORK, July 23 /PRNewswire-USNewswire/ -- Montefiore Medical Center, one of
New York City's largest healthcare systems, today announced it has completed
its acquisition of most of the assets of Our Lady of Mercy Medical Center
(OLM). As a result of this acquisition, the former OLM becomes the North
Division of Montefiore Medical Center.

The acquisition makes Montefiore a 1,491-bed academic medical center employing
more than 16,000 associates serving the two million residents of the Bronx and
Westchester County. There are no immediate plans for service changes and
patient care will continue uninterrupted.

"We are enhancing the availability of high-quality, innovative healthcare and
vital services in the Bronx and providing resources for our patients and the
communities we serve," said Steven M. Safyer, MD, President and CEO,
Montefiore Medical Center.

"This preserves a location for healthcare delivery that the surrounding
community has relied on for many years," said Dr. Safyer.

Local residents now will have access to an even greater number of healthcare
services in many more Montefiore locations throughout the Bronx and nearby
Westchester.

"This is great news for the community," said Congressman Charles B. Rangel,
Chairman, House Ways and Means Committee. "At a time when people are
increasingly worried about their healthcare options, local residents can rest
assured that they are not just keeping services close to home, but are also
getting the additional resources and management team of Montefiore Medical
Center, one of our nation's finest medical institutions."

"This is an historic day for Montefiore Medical Center and for all New Yorkers
who rely on our first rate hospitals for medical care," said U.S. Senator
Charles E. Schumer. "This deal will ensure that residents of the Bronx and
Westchester continue to receive affordable high quality care in their
communities."

"With Montefiore, the people of the Bronx and lower Westchester will continue
to get medical care of the highest order," said Congressman Eliot Engel. "I
am proud to say that by working with Senator Schumer and Chairman Rangel, and
working closely with the Centers for Medicare and Medicaid Services, I was
able to help keep the hospital open and serving this population."

"This is certainly great news for residents of the Bronx," said Adolfo
Carrion, Jr., Bronx Borough President. "We can now count on one more location
where patients can receive the excellent care provided by Montefiore Medical
Center, an organization that is synonymous with outstanding healthcare."

"Montefiore is a world-class institution and I am certain it will provide for
our residents the continuum of expert medical care for which it is so well
known," said Father Richard F. Gorman, Chairman, Community Board #12. "I
trust that Montefiore will continue the tradition of being actively engaged in
the community life of this district and beyond."

"Community service has always been one of Montefiore's core missions," Dr.
Safyer said. "This is an opportunity to extend our commitment to advancing a
coordinated, comprehensive agenda that will transform the health of this
entire region."

With the acquisition, Montefiore adds:
-- 369 inpatients beds, for a total of 1,491;
-- 2,500 new employees, for a total of more than 16,000;
-- 7 operating rooms for a total of 46;
-- More than 500 physicians, bringing the total number of doctors on staff to
nearly 2,600.

The additional physicians include primary care doctors and specialists who
further expand the Montefiore network of community-based care as well the
availability of experts in geriatrics, cancer, psychiatry, maternal/child
health and other specialties.

"The North Division staff are committed to providing high quality,
compassionate patient care," said Dr. Safyer. "I applaud the responsiveness
and extra effort the staff have repeatedly demonstrated throughout this
transition. Their good will and hard work have made possible the exciting
future we are now creating together."

Montefiore has established one of the nation's largest primary care networks
and systems of community-based programs targeting at-risk populations, such as
underserved children, the elderly and the chronically ill. Montefiore also is
home to distinguished centers of excellence including cardiology and cardiac
surgery, cancer care, tissue and organ transplantation, children's health,
women's health, surgery and the surgical subspecialties.

"The North Division will be an integral part of Montefiore's regional,
full-service healthcare delivery system," Dr. Safyer said. "We remain
committed to improving the health of our community through innovation and
sustained collaboration, and we are confident that in doing so we will create
a national model for healthcare reform."

Montefiore Medical Center encompasses 124 years of outstanding patient care,
innovative medical "firsts," pioneering clinical research, dedicated community
service and ground-breaking social activism.

A full-service, integrated delivery system caring for patients in the New York
metropolitan region and beyond, Montefiore is a 1,491-bed medical center that
includes: four hospitals -- the Henry and Lucy Moses Division, the Jack D.
Weiler Division, the North Division and The Children's Hospital at Montefiore;
a large home healthcare agency; the largest school health program in the US; a
21-site medical group practice integrated throughout the Bronx and
Westchester; and, a care management organization providing services to 179,000
health plan members.

In 2008, The Children's Hospital at Montefiore ranks as one of "America's Best
Children's Hospitals" in US News & World Report's prestigious annual listing.
Montefiore is ranked by the Leapfrog Group among the top one percent of all
U.S. hospitals based on its strategic investments in sophisticated and
integrated healthcare technology.

Montefiore is committed to meeting the healthcare needs of the future through
medical education and manages one of the largest residency programs in the
country. Montefiore is The University Hospital and Academic Medical Center for
the Albert Einstein College of Medicine and has an affiliation with New York
Medical College for residency programs at the North Division.

Distinguished centers of excellence at Montefiore include cardiology and
cardiac surgery, cancer care, tissue and organ transplantation, children's
health, women's health, surgery and the surgical subspecialties. Montefiore
is a national leader in the research and treatment of diabetes, headaches,
obesity, cough and sleep disorders, geriatrics and geriatric psychiatry,
neurology and neurosurgery, adolescent and family medicine, HIV/AIDS and
social and environmental medicine, among many other specialties. For more
information, please visit http://www.montefiore.org or
http://www.montekids.org.

SOURCE Montefiore Medical Center

Steven Osborne, sosborne@montefiore.org, or Mike Quane, +1-718-920-4011,
mquane@montefiore.org, both of Montefiore Medical Center