Evolution of entanglement under an Ising-like Hamiltonian with particle losses

We present analytical compact solution for the density matrix and correlation functions of two collective-macroscopic spins evolving via Ising-like Hamiltonian in the presence of particle losses. The losses introduce non-local phase noise which destroys highly entangled states arising in the evolution. On the other hand, the states appearing at relatively short timescales, possessing EPR-like entanglement will survive. Applying our solutions to the recently proposed scheme to entangle two Bose-Einstein condensates, we estimate the optimal number of atoms for EPR correlations.