Ellis Medicine says finances stabilizing, seeks merger with St. Peter’s to secure services including reproductive care access

Paul Milton, president and CEO of Ellis Medicine, told the Schenectady County Legislature’s Committee on Health, Housing and Human Services on May 2025 that Ellis is approaching a break-even financial position for the first time in five years and is pursuing a full merger with St. Peter’s Health Partners to ensure access to care and physician recruitment.

Milton said Ellis currently has about "21 days" cash on hand and expects the organization to reach break-even by the end of the calendar year. "We're working our way to a break even position this year, which will be the first time in 5 years," Milton said. He described Ellis as an approximately "$500,000,000 business" with about 70% of revenue tied to government payors ("50% is Medicare, primarily the seniors, and 20% is Medicaid").

Milton described a management relationship with St. Peter’s that began during the pandemic and said the ultimate goal is a full merger to provide scale for physician…