Hey, I'm a fourth year at NYMC, and a member of the student senate. We actually have a class meeting tomorrow to discuss the details of it but I will tell you what I know.
NYMC, is one of the few medical schools who operates without an associated undergraduate university. As a result of the expenses it costs to run a medical school coupled with the current economy, NYMC had been looking to merge with another university. A few of the possibilities that were entertained were Notre Dame, St Johns, Fordham...but for one reason or another they all fell through. However, Touro, which is a blanket name for many different universities including a law school, 2 Do schools I believe and some others offered to purchase us. According to their mission statement, they have always had a goal of building an allopathic medical school. They had invested 200 million into one at NJ, however, they discovered it would be cheaper to merge with us then finish there school. Currently We are working out 'due dilligence' process with them, and although the agreement is NOT final, it looks like it will occur.
The feedback from the students has been mixed, as they did not sign up to go to Touro. However, Touro is a huge financial industry, with lots of money that will give the school financial stability.
Some good things from the potential merger (from what I've heard thru senate):
1.) Financial stability (apparently the day we sign with them our school gets 28 million more of funds instantly)
2.) Access to Hackensack Medical Center - supposedly an amazing hospital, which is used by both RWJ and UMDNJ - Newark, but will be ours if we merge
3.) Multiple housing/libraries in the city
Some Bad things (which I've heard as well):
1.) Touro is not the strongest of names, and has had some bad press in the past
2.) No one knows how this will effect the reputation of the school, although it is thought nothing will change as our faculty and everything will be the same, only adding new sites to do clinicals at (this will give us hospitals in NY (NYC, Westchester, bronx), NJ (Hackensack), Connecticut (Grenich, Danbury, Bridgeport))
Although these are some of the facts, I am sure there is a lot of information I am not privy to. However, only time will tell what will happen. If you guys have any questions feel free to post and I will do my best to respond
Best of luck with the process