Vanderbilt announced on Friday afternoon the university and medical center will soon be separate from one another.
Vanderbilt University Medical Center will be reconfigured as a non-profit academic medical center.
Officials said in a release the move will give the medical center increased financial independence while preserving and growing the collaboration that has resulted in Vanderbilt’s research, education and medical excellence.
The medical center, which will retain the name Vanderbilt University Medical Center, will be governed by a board with representation both from the medical center and the university.
“I am excited by these new changes,” Vanderbilt University Chancellor Nicholas Zeppos said, “and believe they will lead to an even brighter future for both Vanderbilt University and VUMC, as we continue our historic work together while maintaining the values and the collaborative culture that make us great.”
The process is expected to take 12 to 18 months to complete.
The restructuring is not expected to change compensation or benefits for staff, faculty appointments, or financial commitments to academic and clinical programs.