HealthAlliance of the Hudson Valley, a three-hospital system based in Kingston, N.Y., received a $6.5 million grant from New York last year to help keep the struggling system afloat. About $5.9 million went toward paying down long-term debt, while the rest went to consultancy groups and law firms to evaluate strategic partnership options.
Here’s how much each group received:
• AlixPartners (consulting): $338,000
• PwC (finance and advisory): $75,000
• Nixon Peabody (legal services): $50,000
• Ober | Kaler (legal services): $50,000
HealthAlliance officials said successfully finding a hospital or health system partner would cost an additional $1 million, according to the report.
In November, HealthAlliance announced it was involved in ongoing affiliation discussions with several potential health system partners, including Albany (N.Y.) Medical Center, LaGrangeville, N.Y.-based Health Quest and Montefiore Medical Center in New York City.
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