The 788-bed Catholic charity hospital in Lower Manhattan, which emerged from bankruptcy in 2007, has been losing millions of dollars a month.
Under Continuum’s proposal, St. Vincent’s would maintain some emergency services but would no longer take 911 ambulance calls.
Continuum, which operates St. Luke’s-Roosevelt Hospital Center and Beth Israel Medical Center, would take on the hospital’s debt, reportedly about $700 million, and attempt to restructure it with support from the state and creditors.
However, several local politicians are protesting the takeover, saying the area would lose health services.
Read the New York Times’ report on St. Vincent’s Hospital Medical Center.
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