In February, the State University of New York issued a request for proposals for LICH. LICH is part of SUNY Downstate Medical Center, also based in Brooklyn, and the hospital has been on the brink of closure for more than a year. Last January, New York Comptroller Thomas DiNapoli released an audit that found LICH has experienced heavy financial pressures, including losses of $13 million a month, and faced immediate insolvency.
According to a DNAinfo New York report, the proposed purchase price for LICH ranged from the minimum $210 million to as high as $250 million. Four proposals would keep LICH as a full-service hospital, while the other five would create a freestanding emergency department with other healthcare services.
Several hospitals and health systems in the New York City metro area were part of the process: a partnership between NYU Langone Medical Center and Lutheran HealthCare; a partnership between The Brooklyn Hospital Center and Mount Sinai Medical Center; a partnership between Maimonides Medical Center and North Shore-LIJ Health System; and the Chinese Community Accountable Care Organization. In addition, Ontario, Calif.-based Prime Healthcare Services threw its hat into the ring, offering $220 million to operate LICH as a 100-bed nonprofit hospital.
To view all proposals in full detail, click here. SUNY has until May to make its decision.
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