Given that the details of "this particular transaction" are being held in both confidence and with great uncertainty, I'd say that neither of us is 100% educated on it.
But, close your eyes for a moment. Imagine Harvard just bought NYMC. Or MKSCC. Or Einstein. Now open your eyes. Touro. A broke medical school is in talks with the worst medical education system on these shores. The bottom of the bottom.
Yes, I'm sure this is going to end swimmingly.
I completely understand where you're coming from.
NYMC (technically the Archdiocese) spent 5 years searching for partners. Touro made an early offer and was turned down, and so they went ahead with a MD school in Jersey. NYMC nearly shacked up with St. Johns but it didn't work out. Fordham had already lost millions by purchasing the bankrupt Marrymount College in Westchester. Pace University it seems couldn't afford it. With no Catholic or local schools left, NYMC even had meetings with Notre Dame.
Five years later, there's no partner. You can blame it on the Archdiocese for asking for too much money (which is outrageous since they never SPENT money on NYMC). You can blame it on the bad economy that absolutely gutted university endowments. You can blame it on skyrocketing costs. Or maybe it's just bad luck. They tried.
If NYMC can't pay it's own bills (right now it's getting by but the endowment is shrinking), then the Archdiocese would be responsible for the money. They don't want that. Rather than simply releasing the school to a university, then want to get paid. Hence, they finally took Touro on their offer, Touro-NJ was disbanded, and here we are today.
It would have been nice to have ended up with St. Johns, Fordham or Pace but this is what we got. They're keeping NYMC as a separate university within the Touro system (official letterhead is "New York Medical College, a member of the Touro university system").
They have new leadership, we'll get more money. They have a lot of programs for mid-level practitioners, we have a med school that might be able to make them better. If they do get better, then NYMC will benefit from having a full consortium of programs, and we'll grow closer. If they don't then we'll continue to distance ourselves as NYMC vs Touro students. That's all.
The general feeling on campus is that things will improve, stay the same, or some combination of the two. I guess that's the most insight we can give you on these boards. There are a few people who are passionate about it but most really don't care. It's actually the butt of many jokes - the flag football conferences this year are "NYMC" and "Touro".
Take away message is chill out, let the suits do their thing, try to stay positive and don't attempt to predict the future.