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Mt. Sinai Decides Against Saving St. Vincent's
By
Jen Chung
Published Apr 2, 2010
Modified Apr 2, 2010
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By
Jen Chung
Published Apr 2, 2010
Modified Apr 2, 2010
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Yesterday, Mt. Sinai announced that it would not enter a partnership with the struggling St. Vincent's Hospital, leading St. Vincent's to say, "Our board will be in discussions with our management, legal and financial advisers to quickly access our strategic options moving forward." The NY Times reports that the hospital had been set to declare bankruptcy last month, but emergency loans from the state and GE helped keep it afloat as it tried to find a partner. But now, "The hospital, which is running at a deficit of $7 million to $10 million a month, has spent nearly all that money, and with Albany deep in its own financial trouble, more state money is unlikely, people close to the process said on Thursday."
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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