Early this morning, Yeshiva University and Montefiore Health System officially announced their final agreement regarding the governing responsibilities of each institution over Albert Einstein College of Medicine. While Montefiore will assume daily operational responsibility at Einstein–including fiscal responsibility–Yeshiva will maintain academic authority. This includes issuing and granting degrees.
“This is part of a journey that began when Yeshiva University founded Einstein 60 years ago,” said Yeshiva President Richard Joel in the press release.
The agreement comes just short of a year after the termination of Yeshiva and Montefiore’s original Memorandum of Understanding. Months after the fallout, Einstein students urged Yeshiva to consider transferring financial authority of Einstein to Montefiore as a way to sustain the institution which was struggling financially.
After the vocal response from Einstein students, Yeshiva announced that a new governing merger with Montefiore was in the works.
“Montefiore and Einstein have become the example of what transformative care, science and education can be,” said Montefiore president and CEO Steven Safyer in the official press release. “This new agreement which brings us even closer will be the first step toward a more secure and sustainable future.”