Lifespan to be renamed Brown University Health, to receive $150 million from university

PROVIDENCE, R.I. (WLNE) — Lifespan health system and Brown University have finalized an affiliation agreement that will see Brown invest $150 million in the partnership over seven years and will rename the hospital group Brown University Health.

The annual investments from Brown will be in $15 million to $25 million.

The Brown Investment Office will also manage approximately $600 million to $800 million of Lifespan’s investment portfolio.

Brown University Health will also be making new investments in physician recruitment, state-of-the-art facilities, biomedical research, community health services and electronic health records.

The partnership will “strengthen top-quality patient care, medical education and biomedical research in Rhode Island,” according to a statement from Brown University Health.

The partnership is also intended to bolster the learning relationship between Brown medical students, residents and fellows and the hospital group.