School of Medicine. January 15, a joint venture. University Health Network

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1 School of Medicine January 15, 2015 a joint venture University Health Network

2 Nancy Radwin Dan Kalmanson HackensackUMC Seton Hall University Hackensack University Health Network and Seton Hall University Announce Joint Venture to Form School of Medicine (Nutley, NJ) Hackensack University Health Network (HackensackUHN) and Seton Hall University (SHU) announced today that the two institutions have signed a memorandum of understanding to form a new, four-year school of medicine. This partnership will establish the only private school of medicine currently in the state and provide a significant economic boost to the region. The school intends to locate on the campus of the former Hoffmann-La Roche Inc. (Roche), a state-ofthe-art biomedical facility, in Nutley and Clifton, New Jersey. Establishing a school of medicine with the backing of two esteemed institutions will attract the best and brightest to the field of medicine in the State of New Jersey and help curb the critical physician shortage that the state and the nation currently face. By 2020, it is estimated there will be a shortage of 2,500 physicians in the Garden State. HackensackUHN and SHU s joint venture to create a premier academic institution will help combat the physician shortage by providing key educational, research, and career opportunities to incentivize the next generation to pursue a career in medicine. We are excited to be taking this next step with Seton Hall University. Our academic reputations, combined with our clinical expertise, will guarantee the establishment of a world-class academic institution in the Garden State, said Robert C. Garrett, president and CEO of HackensackUHN. New Jersey has long been known as a home to the healthcare and pharmaceutical industries, and it is imperative we continue to support our future workforce through a premier school of medicine. Seton Hall University has always been committed to academic excellence and servant leadership, and Hackensack University Health Network has always been committed to healthcare excellence, said Dr. A. Gabriel Esteban, president of Seton Hall University. As a Catholic university with strong programs in the sciences, nursing, health and medical sciences, and health law, we are perfectly poised to create a school of medicine that will educate talented people in the diverse fields of healthcare. The school of medicine will not only help educate our future workforce, but it will provide a much-needed economic boost to the region by creating highly skilled jobs. The Clifton and Nutley communities experienced a significant economic setback with the departure of Roche, losing nearly 2,000 jobs in late The establishment of a new medical school will have a substantial impact on both municipalities, injecting much needed capital into the community. Garrett added, The school of medicine will create thousands of highly skilled jobs for New Jerseyans in the years to come, attracting new businesses to relocate to our great state to take advantage of our highly skilled workforce. I look forward to partnering with Seton Hall University to making this school of medicine among the best in the nation. The school of medicine will be committed to educational and healthcare excellence, cutting-edge research, high quality care, and the advancement of medical and health science educational imperatives. Seton Hall s plan to integrate their nursing and allied health programs with the new school of medicine is not only innovative but mirrors how healthcare will be delivered in the future. HackensackUHN s hospitals will serve as the primary clinical teaching sites for SHU and SHUaffiliated graduate education programs. Access to HackensackUHN s premier healthcare facilities and training programs will provide hands-on experience and incentivize highly-trained researchers and physicians to live and work in New Jersey upon graduation. The first class is expected to begin within the next three years. HackensackUHN and Seton Hall s vision to create this school of medicine is truly inspirational. Repurposing Roche s premier state-of-the-art facility for this purpose is an excellent fit to Roche s purpose of Doing now what patients need next, said Tom Lyon, vice president and site head, Roche. Creating a pipeline of future healthcare professionals truly embodies Roche s vision and continues the positive healthcare-related legacy for the local communities. As we divest the site, we look forward to working with HackensackUHN and Seton Hall and the ultimate new owner of the Roche campus to help make the new school of medicine a reality. Subject to the New Jersey Economic Development Authority (EDA) approval, an agreement is expected to be finalized in early 2015.

3 University Health Network About Hackensack University Health Network Hackensack University Health Network (HackensackUHN) is the New Jersey-based parent company of HackensackUMC, the HackensackUMC Foundation, Hackensack University Medical Groups, and corporate joint venture partners with LHP Hospital Group in ownership of two hospitals: HackensackUMC at Pascack Valley and HackensackUMC Mountainside. In late 2014, HackensackUHN announced its plans to merge with Meridian Health, forming the largest integrated health system in New Jersey. Also in 2014, HackensackUHN announced that Palisades Medical Center will become a full member of the Network. Together with six other health systems, the Network is part of the nation s largest healthcare consortium of its kind, AllSpire Health Partners. HackensackUHN also enjoys clinical and academic affiliations with some of the nation s most well-renowned health systems, hospitals and universities, including: CityMD, Georgetown Lombardi Comprehensive Cancer Center, Georgetown University School of Medicine, Good Samaritan Regional Medical Center, MedStar Georgetown University Hospital, MinuteClinic, North Shore-LIJ Health System, NYU Langone Medical Center s Division of Pediatric Surgery, Rutgers New Jersey Medical School, St. George s University, Statesir Cancer Center at CentraState Medical Center, and Stevens Institute of Technology. With more than 11,300 employees, 3,100 credentialed medical staff members and 1,697 hospital and nursing home beds at hospitals within the Network, Hackensack University Health Network is one of the largest healthcare systems in New Jersey. For more information, visit About Seton Hall University One of the country s leading Catholic universities, Seton Hall University has been developing students in mind, heart and spirit since Home to nearly 10,000 undergraduate and graduate students and offering more than 90 rigorous majors, Seton Hall s academic excellence has been singled out for distinction by The Princeton Review, U.S. News & World Report and Bloomberg Businessweek. Seton Hall, which embraces students of all religions, prepares its graduates to be exemplary servant leaders and global citizens. In recent years, the University has experienced record-breaking undergraduate enrollment growth as well as more than a 70 point increase in the average SAT scores of incoming freshmen. Since 2007, Seton Hall students and alumni have been awarded 18 Fulbright Scholarships as well as other prestigious academic honors including a Rhodes Scholar. A founding member of the new Big East Conference, the Seton Hall Pirates field 14 NCAA Division I varsity sports teams. The university s beautiful main campus is located in suburban South Orange, New Jersey, and is only 14 miles from New York City offering its students a wealth of employment, internship, cultural and entertainment opportunities. The university s nationally recognized School of Law is prominently located in downtown Newark. For more information, visit

4 University Health Network Our Vision The nation is facing a physician shortage with a predicted shortage of hundreds of thousands of doctors in the near future. There is an estimated shortage of 2,500 physicians in New Jersey alone by A strategic mission of HackensackUMC is to develop into a major academic center. The medical center currently trains approximately 100 medical students and approximately 160 medical and dental residents and students per month; as well as 75 to 100 nursing students. HackensackUMC and Seton Hall University are in a unique position to partner in the development of an innovative New Jerseybased health education program to address the upcoming physician shortage. This is why Hackensack University Health Network is moving forward with Seton Hall University by signing a Memorandum of Understanding (MOU) to establish a new, four-year school of medicine. Both organizations believe that their academic reputations, combined with clinical expertise, will create an opportunity to form New Jersey s only private school of medicine that will no doubt become one of the premier schools in the nation. This MOU reflects plans to locate this new school on the campus of the former Hoffmann-La Roche Inc. (Roche) in Nutley and Clifton, NJ. The proposed school of medicine would be dedicated to achieving the following goals: educational excellence; cutting-edge research; highest-quality clinical care; meaningful integration; and the advancement of New Jersey medical and health sciences educational imperatives. Seton Hall University will bring its strengths in the sciences: Nursing; Health and Medical Sciences (which includes graduate programs in Physician Assistant, Athletic Training, Occupational Therapy, Physical Therapy, Speech-Language Pathology, Health Administration, and its Ph.D. in Health Sciences); and Health Law to this new partnership. This will create an opportunity to integrate the education and training of these multiple disciplines a truly innovative approach that will mirror how healthcare will be delivered in the future. We are bringing together the best of both worlds; the establishment of a new school of medicine with Seton Hall University at a state-of-the-art, one-of-a-kind campus, coupled with our flourishing research partnership with Georgetown University. This will allow us to create a world-class network of academic, research and clinical expertise to educate the next generation of physicians to advance our reputation as a health science leader. Opportunities are expected to originate from our combined effort to develop state-of-the-art new technologies and therapies, and to take part in the benefits of commercialization of our discoveries. A strategic program between Hackensack University Health Network and Seton Hall University could ultimately develop into a strong partnership, providing access to Seton Hall s educational depth and breadth of programs, attracting highly-qualified aspiring physicians to be trained in primary care. Students would be trained within New Jersey on Hackensack University Health Network campuses, and retention programs would be developed to embed the physicians within the Network. The development of a differentially trained and oriented-physician workforce by two leading institutions will deliver a highly-nationally competitive health science complex to the state of New Jersey.

5 FREQUENTLY ASKED QUESTIONS HackensackUHN and Seton Hall University s Joint Venture to Form School of Medicine On January 15, 2015, Hackensack University Health Network (HackensackUHN) and Seton Hall University (SHU) announced that the two institutions have signed a memorandum of understanding to form a new, four-year school of medicine. Both organizations share a dedication to excellence in education and healthcare and are committed to focusing on cutting-edge research, high quality care, meaningful integration, and the advancement of medical and health science educational imperatives. Below are some questions and answers to provide additional background on the school of medicine. Why are HackensackUHN and SHU entering into an agreement to create a school of medicine? HackensackUHN and SHU recognize that academic medicine is currently undergoing fundamental changes in light of the implementation of the Affordable Care Act, critical healthcare provider shortages and the erosion of funding from the National Institutes of Health and other sources. Specifically, in the State of New Jersey it is estimated that by 2020 there will be a shortage of 2,500 physicians. By establishing a premier school of medicine that provides educational, research, and career opportunities, HackensackUHN and SHU will help address these challenges and attract the best and the brightest to pursue a career in medicine. Who will oversee the school of medicine? The medical school will be governed by a Board of Trustees with equal representation by SHU and HackensackUHN in terms of the voting power and number and types of individuals appointed by, and with representation meeting the requirements for the Liaison Committee on Medical Education (LCME), the authority for the accreditation of medical education programs leading to the MD degree. The medical school Board of Trustees will be responsible for overseeing and making recommendations regarding the strategies, policies and finances of the medical school. How will the State of New Jersey benefit from the joint venture between HackensackUHN and SHU to create a school of medicine? The sophisticated economy of the State of New Jersey home to many pharmaceutical, biological science and other complex industries demands a well-trained workforce. Students will have access to HackensackUHN s world-class healthcare facilities and training programs, which will provide hands-on experience and incentivize highly trained researchers and physicians to remain in New Jersey upon graduation. Further, a premier school of medicine will attract more businesses, particularly in the life sciences and medical fields, to relocate to New Jersey in order to benefit from our highly educated workforce. The new school of medicine will benefit important public policy goals of the State of New Jersey including: 1) Create and enhance essential higher education opportunities for the residents of the state and in particular, encourage residents to pursue a medical and health sciences education in New Jersey. 2) Create a vibrant educational institution and community that will attract new businesses to the state and encourage residents to live and work in New Jersey upon graduation. 3) Improve healthcare throughout the region and address critical physician shortages. 4) Increase federal, pharmaceutical, and other private research dollars in the state. 5) Create a life-sciences technology transfer and commercialization infrastructure that can contribute to the growth of New Jersey s economy. 6) Increase private sector jobs and spur economic growth in the state and region. What will the establishment of a school of medicine mean for the local communities? The school of medicine will be located at the site of the former Hoffmann-La Roche Inc. (Roche), a state-of-the-art biomedical facility in Nutley and Clifton, New Jersey. This area experienced a significant economic setback with the departure of Roche, losing nearly 2,000 jobs in late The school of medicine will provide a much-needed economic boost to the region by creating highly skilled jobs, as well as construction jobs. In addition, the economic impact will benefit area businesses, retailers and restaurants which will see an uptick in traffic because of the medical school s presence. HackensackUMC has been a trusted member of these local communities for many years. In fact, the medical center employs nearly 250 Clifton or Nutley residents at its main campus in Hackensack. And just last year, more than 15,600 of its patients were from either Clifton or Nutley more than 70,000 patients during the past five years; demonstrating the benefit HackensackUMC provides to residents of these communities. What is the timeline for the school of medicine? The two organizations signed a Memorandum of Understanding (MOU). An agreement is expected to be finalized in early The first class is expected to begin within the next three years.

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