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.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
